<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM JUNE 30,
2000 QUARTERLY REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH

<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-START>                             APR-01-2000
<PERIOD-END>                               JUN-30-2000
<CASH>                                             121
<SECURITIES>                                 1,450,852
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,443,453
<PP&E>                                              54
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,470,773
<CURRENT-LIABILITIES>                        1,360,334
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       145,448
<OTHER-SE>                                    (35,008)
<TOTAL-LIABILITY-AND-EQUITY>                 1,470,773
<SALES>                                              0
<TOTAL-REVENUES>                                25,735
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   507
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              21,453
<INCOME-PRETAX>                                  3,839
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              3,839
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,839
<EPS-BASIC>                                     0.27
<EPS-DILUTED>                                     0.26