`UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington D. C. 20549

                                   FORM 10-QSB

     (X) Quarterly report pursuant to Section 13 or 15(d) of the Securities
                            and Exchange Act of 1934.

                  For the quarterly period ended June 30, 2004.

      ( ) Transition report pursuant to Section 13 or 15(d) of the Exchange
           Act for the transition period from _________ to _________.

                        Commission File Number: 333-44586

                           MAXIM MORTGAGE CORPORATION
               (Exact name of registrant as specified in charter)

            DELAWARE                                58-2565680
     (State of or other jurisdiction of       (IRS Employer I.D. No.)
      incorporation or organization)

                          7740 Roswell Road, Suite 400
                             Atlanta, Georgia 30350
                    (Address of Principal Executive Offices)

                                 (404) 591-0670
              (Registrant's Telephone Number, Including Area Code)

Check whether the registrant: (1) has filed all reports required to be filed by
Section by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.

YES (x) NO ( )

Indicate the number of shares outstanding of each of the issuer's classes of
stock as of August 3, 2004.
                            39,811,638 Common Shares

Transitional Small Business Disclosure Format:

                                 YES ( ) NO (x)




                                     Page 1




                           MAXIM MORTGAGE CORPORATION
                              INDEX TO FORM 10-QSB

PART I. FINANCIAL INFORMATION                                        Page

Item 1. Consolidated Financial Statements (unaudited)

    Consolidated Balance Sheets as of June 30, 2004
      and December 31, 2003                                            3

    Consolidated Statements of Operations for the
      three and six months ended June 30, 2004 and 2003                4

    Consolidated Statement of Stockholders' Equity for the
      six months ended June 30, 2004                                   5

    Consolidated Statements of Cash Flows for the
      six months ended June 30, 2004 and 2003                          6

    Notes to Consolidated Financial Statements                         7

Item 2. Management's Discussion and Analysis of Financial
  Condition and Results of Operations (including
  cautionary statement)                                               10

Item 3.   Controls and Procedures                                     11

PART II. OTHER INFORMATION

Item 1. Legal Proceedings                                             12

Item 2. Changes in Securities                                         12

Item 3. Defaults Upon Senior Securities                               12

Item 4. Submission of Matters to a Vote of Securities Holders         12

Item 5. Other Information                                             12

Item 6. Exhibits and Reports on Form 8-K                              12

Signature                                                             12




                                     Page 2




                           MAXIM MORTGAGE CORPORATION

                           CONSOLIDATED BALANCE SHEETS

________________________________________________________________________________


                                       June 30, 2004
ASSETS                                  (unaudited)          December 31, 2003

CURRENT ASSETS -
Cash and cash equivalents             $      25,018         $      83,762

Furniture, fixtures and equipment
 (net of accumulated depreciation
 of $0 and $35,865, respectively)                 -                 39,894

Other assets                                  1,750                 13,309 

TOTAL                                 $      26,768          $     136,965
                                      ==============         ==============


LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
 Accrued and other liabilities        $           -          $      52,209
 Stockholder advances                        18,790                 15,449 
    Total current liabilities                18,790                 67,658 

STOCKHOLDERS' EQUITY:
  Preferred stock - $0.0001 par value;
   5,000,000 shares authorized; zero
   shares issued and outstanding                  -                      -
  Common stock - $0.0001 par value;
   200,000,000 shares authorized;
   39,811,638 shares issued and
   outstanding                                3,981                  3,981
  Additional paid-in capital                374,251                374,251
  Deficit                                  (370,254)              (308,925)
    Total stockholders' equity                7,978                 69,307 

TOTAL                                 $      26,768          $     136,965
                                      ==============         ==============

________________________________________________________________________________

  SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.




                                     Page 3




                           MAXIM MORTGAGE CORPORATION

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

__________________________________________________________________________________________

                            For the six    For the six      For the three    For the three
                            months ended   months ended     months ended     months ended
                            June 30,2004   June 30, 2003    June 30, 2004    June 30, 2003


REVENUES:
Broker fee income         $    594,361    $  1,572,674     $    185,680     $    850,173
Interest income                      -             304                -              304 
    Total revenues             594,361       1,572,978          185,680          850,477 

EXPENSES:
Employee compensation
 and benefits                  499,267       1,206,136          204,112          603,536
Occupancy and equipment         36,115          67,620           10,732           32,730
Selling and marketing           32,371         158,387           11,677          103,939
Professional fees               27,062          83,380           26,522           41,881
Office Supplies                  9,172          14,263              466            6,743
Other                           18,097          28,001            5,377           16,591
Loss from disposal and
 impairment of furniture,
 fixtures and equipment         33,606               -                -                - 
  Total expenses               655,690       1,557,787          258,886          805,420 

NET INCOME (LOSS)         $    (61,329)   $     15,191     $    (73,206)    $     45,057
                          =============   =============    =============    =============

Net Income (Loss) Per
 Share - Basic and
 Diluted                  $      (0.00)   $       0.00     $      (0.00)    $      0.001
                          =============   =============    =============    =============

Weighted Average Number
 of Shares Outstanding      39,811,600      39,811,600       39,811,600       39,811,600
                          =============   =============    =============    =============

_________________________________________________________________________________________

  SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.




                                     Page 4




                           MAXIM MORTGAGE CORPORATION

                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
                     For the six months ended JUNE 30, 2004
                                   (Unaudited)

___________________________________________________________________________________________

                            Common
                             Stock                 Additional
                                                    Paid-In
                     Shares         Amount          Capital        Deficit         Total

Balances,
December 31,
2003               39,811,638    $     3,981     $   374,251     $ (308,925)   $    69,307

Net loss                    -              -               -        (61,329)       (61,329)

Balances,
June 30,
2004               39,811,638    $     3,981     $    374,251    $ (370,254)   $     7,978
                   ==========    ===========     ============    ===========   ============


___________________________________________________________________________________________

  SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.




                                     Page 5




                           MAXIM MORTGAGE CORPORATION

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

________________________________________________________________________________

                                                  For the six       For the six
                                                  months ended      months ended
                                                 June 30, 2004     June 30, 2003

Cash Flows From Operating Activities:
 Net income (loss)                              $     (61,329)       $   15,191
 Adjustments to reconcile net loss
  to net cash used in operating
  activities:
   Depreciation                                         6,288            12,750
   Loss from disposal and impairment
    of furniture, fixtures and equipment               33,606                 -
   Decrease in other assets                            11,559             5,225
   Decrease in accrued and other liabilities          (52,209)          (48,284)
Net Cash Used in Operating Activities                 (62,085)          (15,118)

Cash Flows From Investing Activities-
 Purchases of property and equipment                        -            (7,315)

Cash Flows From Financing Activities-
 Advances from stockholder - net                        3,341                 - 

Net Decrease In Cash and Cash Equivalents             (58,744)          (22,433)

Cash and Cash Equivalents at
 Beginning of Period                                   83,762           205,592 

Cash and Cash Equivalents at End of Period      $      25,018        $  183,159
                                                ==============       ===========

Supplemental disclosure of cash
 flow information:

 Cash paid for interest                         $           -        $        -
                                                ==============       ===========

 Cash paid for income taxes                     $           -        $        -
                                                ==============       ===========

________________________________________________________________________________

  SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.




                                     Page 6




                           Maxim Mortgage Corporation
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE A - FORMATION AND OPERATIONS OF THE COMPANY

Maxim Mortgage Corporation ("Maxim") was incorporated on January 5, 1999 under
the laws of the state of Delaware. Until the termination of its relationship
with NovaStar Home Mortgage, Inc. as discussed below, Maxim and its 99.98% owned
subsidiary, NovaStar/MXMO, a Delaware Limited Liability Company (collectively
"we", "us", "our"), were engaged in the brokerage and origination of mortgage
loans on behalf of various third party lenders.

During the period from May 2003 to May 2004, pursuant to an agreement with
NovaStar Home Mortgage, Inc., ("NovaStar") we conducted substantially all of our
mortgage brokerage activities under the NovaStar brand name. However, on May 10,
2004 NovaStar informed us that our financial agreement would be modified. As a
result thereof, we determined that it was no longer feasible for us to continue
as a branch of NovaStar and we have therefore terminated our relationship
effective May 31, 2004. Since such date, our mortgage brokerage activities have
effectively ceased and we are currently focusing our efforts on evaluating
opportunities to enhance shareholder value. As a direct result of this, we are
also attempting to sell our furniture, fixtures and equipment. Since we believe
that the proceeds from any such sales of these assets will be minimal, we have
recognized an impairment loss for the remaining net book value of the assets as
of June 30, 2004.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts and
balances of Maxim and its subsidiary (identified above). All significant
inter-company accounts and balances have been eliminated in consolidation.

Basis of Presentation

Our accompanying unaudited financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America
for interim financial information and the instructions to Form 10-QSB and Rule
10-1 of Regulation S-X of the Securities and Exchange Commission (the "SEC").
Accordingly, these financial statements do not include all of the footnotes
required by generally accepted accounting principles. In our opinion, all
adjustments (consisting of normal and recurring adjustments) considered
necessary for a fair presentation have been included. Operating results for the
six months ended June 30, 2004 are not necessarily indicative of the results
that may be expected for the year ended December 31, 2004. The accompanying
financial statements and the notes thereto should be read in conjunction with
our audited financial statements as of and for the year ended December 31, 2003
contained in our Form 10-KSB.

Use of Estimates

The preparation of financial statements in accordance with accounting principles
generally accepted in the United States of America requires us to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
the disclosure of contingent assets and liabilities at the date of the financial
statements. The reported amounts of revenues and expenses during the reporting




                                     Page 7




period may be affected by the estimates we are required to make. Actual results
could differ from our estimates.

Concentration of Credit Risk

Financial instruments that subject us to significant concentrations of credit
risk consist primarily of cash and cash equivalents. At June 30, 2004 we
maintain all of our cash and cash equivalents in deposit accounts with high
quality financial institutions, which deposit accounts at times may exceed
federally insured limits. We have not experienced any losses in such accounts.

Revenue Recognition

Prior to the termination of our business as discussed above, we recognized
broker fee income when mortgage transactions were funded.

Income Taxes

We compute income taxes in accordance with Financial Accounting Standards
Statement No. 109 "Accounting for Income Taxes" ("SFAS 109"). As such, deferred
taxes are recognized for the tax consequences of temporary differences by
applying enacted statutory rates applicable to future years to differences
between the financial statement carrying amounts and the tax basis of existing
assets and liabilities, and the effect on deferred taxes of a change in tax
rates is recognized in income in the period that included the enactment date. No
significant temporary differences existed as of June 30, 2004 or 2003.

No provision or benefit for federal or income taxes was made for any of the
periods included in the accompanying consolidated financial statements either
because (1) earnings would be offset by operating loss carryforwards or (2)
because losses were recognized for both financial and tax reporting purposes. We
will continue to assess whether a benefit for income taxes should be recorded as
the year progresses but none is deemed necessary as of June 30, 2004.

At June 30, 2004, we had net operating loss carryforwards of approximately
$310,000 for income tax purposes. Assuming they are not lost because of future
potential "change in control provisions" of the Internal Revenue Code, the net
operating loss carryforwards expire in various periods through June 30, 2024.
The deferred income tax asset arising from these net operating loss
carryforwards of approximately $127,000 is not recorded in the accompanying
consolidated balance sheet because we established a valuation allowance to fully
reserve such asset, as its realization did not meet the required asset
recognition standard established by SFAS 109. The valuation allowance increased
by approximately $27,000 during the six months ended June 30, 2004.

Recent Pronouncements

We do not expect that the adoption of any recent accounting pronouncements will
have a material impact on our consolidated financial statements.

Net Loss Per Share

We compute net loss per share in accordance with SFAS No. 128 "Earnings per
Share" ("SFAS No. 128") and SEC Staff Accounting Bulletin No. 98 ("SAB 98").
Under the provisions of SFAS No. 128 and SAB 98, basic net loss per share is
computed by dividing the net loss available to common stockholders for the




                                     Page 8




period by the weighted average number of common shares outstanding during the
period. Diluted net loss per share is computed by dividing the net loss for the
period by the number of common and common equivalent shares outstanding during
the period. Common equivalent shares outstanding as of June 30, 2004, which
consist of employee stock options, have been excluded from diluted net loss per
common share calculations because they are anti-dilutive. Accordingly basic and
diluted net losses per share are identical for each of such years. At June 30,
2004, we have approximately 910,000 stock options outstanding.

Liquidity

Our consolidated financial statements are prepared using accounting principles
generally accepted in the United States of America applicable to a going
concern, which contemplate the realization of assets and liquidation of
liabilities in the normal course of business. As mentioned in Note A, our
relationship with NovaStar was terminated effective May 31, 2004. As of such
time, we no longer have any operating business and/or revenues, and because most
of our expenses were variable (e.g. employee compensation and benefits) our
expenses also declined significantly. While this matter will potentially result
in us suffering losses from operations as we evaluate opportunities, we believe
we will be able to continue as a going concern for a reasonable period of time.

NOTE B - COMMITMENTS

At June 30, 2004, we are obligated under an operating lease agreement for our
administrative facility that initially required monthly payments of
approximately $5,600 (including sales tax) through December 31, 2005 (as of
April 1, 2004, our monthly rent payment was reduced to approximately $2,500 per
month as a result of a reduction in the amount of space we lease). Our president
and majority stockholder had unconditionally guaranteed payment of the monthly
lease payments through July 12, 2004, at which time such guaranty ceased.
Because of the cessation of our operations, we are currently subleasing this
space to an unrelated entity for approximately $2,500 per month. During the
three and six months ended June 30, 2004 and 2003 net rent expense approximated
$5,000, $24,000, $33,400, and $16,700, respectively.

________________________________________________________________________________




                                     Page 9




Item 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The following discussion and analysis should be read in conjunction with the
balance sheet as of December 31, 2003 and the financial statements as of and for
the three and six months ended June 30, 2004 and 2003 included with this Form
10-QSB. Through May 31, 2004, we were engaged in the brokerage, origination and
sale of mortgage loans secured by residential or commercial real estate.
Subsequent to such date, because of the termination of our relationship with
NovaStar, our mortgage brokerage activities have ceased and we are currently
focusing our efforts on evaluating opportunities to enhance shareholder value.

Readers are referred to the cautionary statement below, which addresses
forward-looking statements.

Results of operations for the three months ended 6/30/04 vs. 6/30/03

During the three months ended June 30, 2004, we generated approximately $185,700
in mortgage origination fees and incurred total expenses of approximately
$259,000 as compared to total revenues and expenses of approximately $850,500
and $805,400, respectively during the three months ended June 30, 2003. The
decrease resulted primarily from the termination of our mortgage banking
activities.

Results of operations for the six months ended 6/30/04 and 6/30/03

During the six months ended June 30, 2004, we generated approximately $594,400
in mortgage origination fees and incurred total expenses of approximately
$655,700 as compared to total revenues and expenses of approximately $1,573,000
and $1,558,000, respectively during the six months ended June 30, 2003. The
decrease resulted primarily from the termination of the agreement with NovaStar.

Liquidity and Capital Resources

During the six months ended June 30, 2004 and 2003, we used cash of
approximately $62,100 and $22,400, respectively for operating and investing
activities. The increase in resulted primarily because of declining revenues and
the impairment write-off of various equipment. As mentioned above, the agreement
with NovaStar was terminated effective May 31, 2004, and as of such time, we no
longer have any operating business and/or mortgage brokerage revenues. This
reduction in revenues will be substantially offset by a reduction in operating
expenses as substantially all of our expenses are variable based on the receipt
of revenues. While we will continue to incur certain expenses as we evaluate
opportunities, we anticipate that we will have enough cash to meet our projected
expenses through June 2005.

CAUTIONARY STATEMENT

This Form 10-QSB, press releases and certain information provided periodically
in writing or orally by our officers or our agents contain statements which
constitute forward-looking statements within the meaning of Section 27A of the
Securities Act, as amended and Section 21E of the Securities Exchange Act of
1934. The words expect, anticipate, believe, goal, plan, intend, estimate and
similar expressions and variations thereof if used are intended to specifically




                                    Page 10




identify forward-looking statements. Those statements appear in a number of
places in this Form 10-QSB and in other places, particularly, Management's
Discussion and Analysis or Results of Operations, and include statements
regarding the intent, belief or current expectations us, our directors or our
officers with respect to, among other things: (i) our liquidity and capital
resources; (ii) our financing opportunities and plans and (iii) our future
performance and operating results. Investors and prospective investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors. The factors that might cause such differences
include, among others, the following: (i) any material inability of us to
successfully internally develop our products; (ii) any adverse effect or
limitations caused by Governmental regulations; (iii) any adverse effect on our
positive cash flow and abilities to obtain acceptable financing in connection
with our growth plans; (iv) any increased competition in business; (v) any
inability of us to successfully conduct our business in new markets; and (vi)
other risks including those identified in our filings with the Securities and
Exchange Commission. We undertake no obligation to publicly update or revise the
forward looking statements made in this Form 10-QSB to reflect events or
circumstances after the date of this Form 10-QSB or to reflect the occurrence of
unanticipated events.

Item 3.  CONTROLS AND PROCEDURES

We maintain disclosure controls and procedures designed to ensure that
information required to be disclosed in reports filed under the Securities
Exchange Act of 1934, as amended, is recorded, processed, summarized and
reported within the specified time periods. As of the end of the period covered
by this report, our Chief Executive/Accounting Officer evaluated the
effectiveness of our disclosure controls and procedures. Based on the
evaluation, which disclosed no significant deficiencies or material weaknesses,
our Chief Executive/Accounting Officer concluded that our disclosure controls
and procedures are effective as of the end of the period covered by this report.
There were no changes in our internal control over financial reporting that
occurred during our most recent fiscal quarter that have materially affected, or
are reasonably likely to materially affect, our internal control over financial
reporting.




                                    Page 11




                          PART II. - OTHER INFORMATION

Item 1. Legal Proceedings

NONE

Item 2. Changes in Securities

NONE

Item 3. Defaults Upon Senior Securities

NONE

Item 4. Submission of Matters to a Vote of Securities Holders

NONE

Item 5. Other Information

NONE

Item 6. Exhibits and Reports on Form 8-K

      Form 8-K filed on May 12, 2004 reporting on Item 5.

                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

SIGNATURE             TITLE                                     DATE
/s/ Joel Arberman     Director, Chief Accounting Officer        August 13, 2004




                                    Page 12`