<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SEPTEMBER
30, 1999 QUARTERLY REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               SEP-30-1999
<CASH>                                          36,354
<SECURITIES>                                 1,995,803
<RECEIVABLES>                                   12,679
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               2,081,469
<CURRENT-LIABILITIES>                          864,216
<BONDS>                                        994,355
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     26,736
<COMMON>                                       244,279
<OTHER-SE>                                      48,117
<TOTAL-LIABILITY-AND-EQUITY>                 2,081,469
<SALES>                                              0
<TOTAL-REVENUES>                                34,555
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 7,732
<LOSS-PROVISION>                                   416
<INTEREST-EXPENSE>                              27,390
<INCOME-PRETAX>                                (3,738)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (3,738)
<EPS-BASIC>                                     (0.39)
<EPS-DILUTED>                                   (0.39)