<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
JUNE 30, 2000 FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-END>                               JUN-30-2000
<CASH>                                          14,431
<SECURITIES>                                 1,012,133
<RECEIVABLES>                                   20,646
<ALLOWANCES>                                     4,579
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,042,631
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,042,631
<CURRENT-LIABILITIES>                            7,403
<BONDS>                                        949,334
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            81
<OTHER-SE>                                      85,813
<TOTAL-LIABILITY-AND-EQUITY>                 1,042,631
<SALES>                                              0
<TOTAL-REVENUES>                                50,121
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                10,045
<LOSS-PROVISION>                                 1,496
<INTEREST-EXPENSE>                              36,779
<INCOME-PRETAX>                                  1,801
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              1,801
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,801
<EPS-BASIC>                                       0.22
<EPS-DILUTED>                                     0.22