<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549


_____________________


FORM 10-Q



[ X ]  Quarterly Report Pursuant to Section 13 or 15(d) of the
       Securities Exchange Act of 1934 For the quarterly period 
       ended September 30, 1998
or

[   ]  Transition Report Pursuant to Section 13 or 15(d) of the
       Securities Exchange Act of 1934
       For the transition period from ___________________ to
       __________________


Commission File Number 0-19847


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



California                              95-2960716
(State or other jurisdiction            (I.R.S. Employer
of incorporation or                     Identification No.)
organization)





3230 Fallow Field Drive
Diamond Bar, California 91765
(Address, including zip code, of principal executive offices)

(909) 595-1996
(Registrant's telephone number, including area code)



Indicate by check mark whether the registrant (1) has filed all reports
required to be filed 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____

As of September 30, 1998, 5,569,697 shares of the registrant's common
stock were outstanding.


<PAGE>
FIRST MORTGAGE CORPORATION
FORM 10-Q

INDEX<TABLE>

<CAPTION>


Part I - Financial Information                                     Page
<S>                                                                <C>

Item 1. Financial Statements:

        Balance Sheet                                               3
         September 30, 1998 (Unaudited) and March 31, 1998

         Unaudited Statement of Income
           Three Months and Six Months Ended September 30, 1998 and
        1997                                                        4

        Unaudited Statement of Cash Flows
         Six Months Ended September 30, 1998 and 1997               5

        Notes to Unaudited Financial Statements                     6-7

Item 2. Management's Discussion and Analysis of Financial Condition
         and Results of Operations                                  8-13


Part II - Other Information

Item 6. Exhibits and Reports on Form 8-K                            14

Signatures                                                          15
</TABLE>
<PAGE>
PART I.  FINANCIAL INFORMATION

Item 1.   Financial Statements
<TABLE>

FIRST MORTGAGE CORPORATION

BALANCE SHEET
<CAPTION>

                                       September 30,1998    March 31, 1998
                                       (Unaudited)       
<S>                                    <C>                 <C>
ASSETS
Cash                                    $3,732,000          $8,182,000
Mortgage loans held for sale            57,352,000          53,052,000
Other receivables and servicing          8,788,000          10,566,000
 advances
Capitalized servicing rights             9,997,000           7,490,000
Property and equipment, net                697,000             664,000
Prepaid expenses and other assets          138,000             361,000
Note receivable                            130,000             130,000
                                                      
TOTAL ASSETS                           $80,834,000         $80,445,000
                                                        
LIABILITIES AND STOCKHOLDERS'                           
 EQUITY
                                                        
LIABILITIES:                                            
   Notes payable, banks               $37,854,000         $40,427,000
   Sight drafts payable                 9,552,000           9,372,000
   Accounts payable and accrued         1,963,000           1,392,000
    liabilities
   Deferred income taxes                2,828,000           2,259,000
   Income taxes payable                    57,000                   -
                                                        
      Total Liabilities                52,254,000          53,450,000
                                                      
STOCKHOLDERS' EQUITY                                    
   Preferred stock, no par value;                       
      Authorized shares - 1,000,000                     
      Issued and outstanding shares             -                   -
       - None
   Common stock, no par value:                          
      Authorized shares -                      
       10,000,000                                              
      Issued and outstanding shares                     
       - 5,569,697 at                   3,888,000           4,963,000
       September 30, 1998 and
       5,808,697 at March 31, 1998
   Retained earnings                   24,692,000          22,032,000
                                                        
         Total Stockholders' Equity    28,580,000          26,995,000
                                                        
TOTAL LIABILITIES AND STOCKHOLDERS'                     
   EQUITY                             $80,834,000         $80,445,000
</TABLE>                                                

<PAGE>
FIRST MORTGAGE CORPORATION
<TABLE>

UNAUDITED STATEMENT OF INCOME

                                   
<CAPTION>

                                 Three Months Ended         Six Months Ended
                                   September 30,             September 30,
                                 1998         1997         1998         1997
                                                                           
<S>                          <C>          <C>           <C>           <C>
REVENUES:
   Loan origination income     $989,000     $808,000     $2,100,000    $1,512,000
   Loan servicing income      1,957,000    1,873,000      3,881,000     3,729,000
   Gain on sale of mortgage                                        
    loans                     4,807,000    1,858,000      8,460,000     3,198,000
   Interest income              935,000      626,000      1,966,000     1,163,000
                                                                          
         Total revenues       8,688,000    5,165,000     16,407,000     9,602,000
                                                                          
EXPENSES:
   Compensation and benefits  2,585,000    2,065,000      5,003,000     4,053,000
   General and                                                   
    administrative expenses   2,444,000    1,483,000      4,634,000     2,756,000
   Amortization of                                               
    capitalized servicing                                            
    rights                      829,000      595,000      1,700,000     1,141,000
   Interest expense             266,000      183,000        525,000       355,000
                                                                          
         Total expenses       6,124,000    4,326,000     11,862,000     8,305,000
                                                                          
INCOME BEFORE INCOME TAXES    2,564,000      839,000      4,545,000     1,297,000
                                                                          
INCOME TAX EXPENSE            1,060,000      352,000      1,885,000       546,000
                                                                          
NET INCOME                   $1,504,000   $  487,000     $2,660,000   $   751,000
                                                                          
BASIC EARNINGS PER SHARE     $     0.27   $     0.08     $     0.47   $      0.13
                                                                          
DILUTED EARNINGS PER SHARE   $     0.27   $     0.08     $     0.47   $      0.13
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          

</TABLE>

<PAGE>
FIRST MORTGAGE CORPORATION
<TABLE>
  
  UNAUDITED STATEMENT OF CASH FLOWS
  <CAPTION>
  
                                                  Six Months Ended
                                                                      September 30,
                                                                      1998           1997
  <S>                                                                 <C>            <C>
  CASH FLOWS FROM OPERATING ACTIVITIES:
     Net income                                                         $2,660,000     $  751,000
     Adjustments to reconcile net income to net cash
        provided by (used in) operating activities:
     Provision for deferred income taxes                                   569,000        124,000
     Provision for losses on foreclosure                                   (54,000)      (183,000)
     Amortization of capitalized servicing rights                        1,700,000      1,141,000
     Depreciation and amortization of property and equipment               130,000        100,000
     Change in excess service fee                                           36,000         48,000
     Originations and purchases of mortgage loans held for sale       (433,509,000)  (200,344,000)
     Sales and principal repayments of mortgage loans held for sale    429,209,000    192,765,000
     Changes in other receivables and servicing advances                 1,832,000        422,000
     Change in prepaid expenses and other assets                           223,000        193,000
     Change in accounts payable and accrued liabilities                    571,000        112,000
     Change in income taxes payable                                         57,000              -
  
  Net cash provided by (used in) operating activities                    3,424,000     (4,871,000)
  
  CASH FLOWS FROM INVESTING ACTIVITIES:
     Purchase of mortgage servicing rights                                 (23,000)      (401,000)
     Origination mortgage servicing rights                              (4,220,000)    (1,347,000)
     Purchase of furniture, equipment and leasehold improvements          (163,000)      (101,000)
     Change in due from affiliates                                               -        134,000
  
  Net cash used in investing activities                                 (4,406,000)    (1,715,000)
  
  CASH FLOWS FROM FINANCING ACTIVITIES:
     Change in notes payable, banks                                     (2,573,000)     2,855,000
     Change in sight drafts payable                                        180,000      1,542,000
     Change in notes payable, officer                                            -     (1,500,000)
     Repurchase of common stock                                         (1,075,000)             -
  
  Net cash provided by (used in) financing activities                   (3,468,000)     2,897,000
                                   
  DECREASE IN CASH                                                      (4,450,000)    (3,689,000)
  
  CASH, BEGINNING OF PERIOD                                              8,182,000      5,903,000
  
  CASH, END OF PERIOD                                                   $3,732,000     $2,214,000
  
  SUPPLEMENTAL CASH FLOW INFORMATION:
     Cash paid during the period for:
        Interest                                                        $  416,000     $  264,000
        Income taxes                                                     1,000,000        225,000
</TABLE>
  
<PAGE>
FIRST MORTGAGE CORPORATION
NOTES TO UNAUDITED FINANCIAL STATEMENTS
September 30, 1998

1.  BASIS OF PRESENTATION

    The accompanying unaudited financial statements have been prepared
    in accordance with generally accepted accounting principles for
    interim financial information and in accordance with the
    instructions to Form 10-Q and Regulation S-X.  In the opinion of
    management, all adjustments (consisting only of normal recurring
    accruals) necessary for a fair presentation of the results for the
    interim periods have been included.  The results of operations for
    the interim periods are not necessarily indicative of the results
    to be expected for the full year.  In addition, this document
    should be read in conjunction with the financial statements and
    footnotes included in the Company's annual report on Form 10-K for
    fiscal year ended March 31, 1998.

    The preparation of the financial statements of the Company requires
    management to make estimates and assumptions that affect reported
    amounts.  These estimates are based on information available as of
    the date of the financial statements.  Therefore, actual results
    could differ from those estimates.


2.  CAPITALIZED SERVICING RIGHTS

    Activities in Capitalized Servicing Rights are summarized as
    follows:
<TABLE>
<CAPTION>
                                 Capitalized
                                 Servicing
                                 Rights
<S>                              <C>
Balance at March 31, 1998        $7,490,000
   Additions                      4,243,000
   Amortizations and write offs  (1,736,000)
                      
Balance at September 30, 1998    $9,997,000
</TABLE>


3.  NOTES PAYABLE

    At September 30, 1998, the Company had line of credit agreements
    with two nonaffiliated banks, which provided for borrowings up to
    $70,000,000 and $30,000,000 with annual interest payable monthly at
    1.25% to 1.40% or the bank's reference rate, depending on the level
    of borrowings and the compensating balances maintained.  At
    September 30, 1998, borrowings under these lines of $37,854,000
    were collateralized by mortgage loans held for sale.

    The line of credit agreements are subject to renewal on September
    1, 1999 and August 31, 2000, respectively.  Both agreements contain
    certain requirements, including but not limited to, the maintenance
    of minimum net worth, debt to net worth ratio, current ratio, net
    income and servicing portfolio, and restrict the Company's ability
    to pay dividends.  The Company believes its two lines of credit
    agreements will be renewed prior to their expiration.

<PAGE>
4.  EARNINGS PER SHARE

   The following table sets forth the computation of basic and diluted
   earnings per share:
<TABLE>
<CAPTION>

                                                   Six Months ended
                                                   September 30
                                                   1998        1997
<S>                                                <C>          <C>
Numerator:                                                 
Net income                                         $2,660,000    $751,000
                                                                     
Denominator:                                                         
Shares used in computing basic earnings per share   5,658,069   5,859,117
share
Effect of stock options treated as equivalents           
 under the treasury stock method                        9,494           -
Denominator for diluted earnings per share          5,667,563   5,859,117
Basic earnings per share                                 $.47        $.13
Diluted earnings per share                               $.47        $.13
</TABLE>


5.  CONTINGENCIES
    
    The Company is currently a defendant in certain litigation arising
    in the ordinary course of business.  It is management's opinion
    that the outcome of these actions will not have a material effect
    on the financial position or results of operations of the Company.
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS


FORWARD LOOKING STATEMENTS

Certain statements in this Form 10-Q are forward-looking statements,
including those that discuss strategies, goals, outlook, projected
revenues, income, return and other financial measures.  These forward-
looking statements are subject to risk and uncertainties that may cause
actual results to differ materially from those contained in the
statements, including the following facters: (i) the direction of
interest rates;  (ii) the demand for mortgage credits;  (iii) the
ability to obtain sufficient financial sources for liquidity and
working capital; (iv) changes in laws or regulations governing mortgage
banking operations; and (v) level of competition within the mortgage
banking industry.  In addition, the words "believe,"  "expect,"
"anticipate," "intend," "will" and similar words identify forward-
looking statements in this Form 10-Q.


RESULTS OF OPERATIONS:

Three months ended September 30, 1998 compared to three months ended
September 30, 1997.


GENERAL

     First Mortgage reported net income of $1.504 million or $0.27 per
     share for the quarter ended September 30, 1998, compared to net
     income of $487,000 or $0.08 per share for the comparable 1997
     quarter.  The increase of 208.8% in net income was primarily
     attributable to substantial larger gains on mortgage sales;
     stronger loan origination revenues and increase in interest
     income.  The improvement in earnings was, however, offset
     partially by higher compensation; general and administrative
     expenses and amortization of capitalized servicing rights.


REVENUES

     For the quarter ended September 30, 1998, the volume of new
     mortgage loans closed increased by 85.3% to $210.44 million from
     $113.55 million in the prior year quarter.  The increase is a
     reflection of lower long-term interest rates, which significantly
     increased the volume of refinancing loans in the market place, and
     the robust recovery of the California real estate market.

     For the three months ended September 30, 1998, loan origination
     revenue increased by approximately 22.4% to $989,000 from the
     September 1997 quarter, due primarily to a higher volume of retail
     loans, which carry higher front-end origination fees.

     As of September 30, 1998, the Company serviced $1.662 billion in
     loans compared to $1.712 billion at September 30, 1997, a decrease
     of 2.9% compared to the year-ago quarter.  The run-offs in the
     servicing portfolio were due to heavy refinances induced by the
     current low interest rate environment.  However, total loan
     servicing income, including late charges and other miscellaneous
     fees, rose by 4.5% to $1.96 million in the September 1998 quarter,
     from $1.87 million of the prior year quarter.  The rise in
     servicing income is primarily due to the larger number of FHA and
     VA loans currently serviced by the Company, which typically carry
     a net service fee of 44 basis points.

<PAGE>
     The following table sets forth certain information pertaining to
     the servicing portfolio of the Company for the period indicated.
<TABLE>
<CAPTION>
          
                                            Three Months Ended
                                            September 30,
                                            1998           1997
                                            (Dollars in thousands
                                            except average loan
                                                balance)
          <S>                               <C>            <C>
          Beginning loan service portfolio  $1,570,671     $1,606,069
          portfolio
          
          Add: Loans originated                210,440        113,546
                                                      
          Less: Prepayment and amortization    207,161        105,673
                                                      
          Ending loan servicing portfolio    1,573,950      1,613,942
          Sub-Servicing                         88,450         98,167
          Total servicing portfolio         $1,662,400     $1,712,109
          Average loan balance 
           (end of period)                    $ 94,214      $  96,631

</TABLE>



     Due to a very favorable reduction in long-term mortgage interest
     rates during the quarter, the gain on sale of mortgage loans was
     $4.81 million for the three months ended September 30, 1998, an
     increase of 158.7% over the 1997 period.

     Interest income, which reflects the interest received on mortgage
     loans held for sale, increased to $935,000 for the three months
     ended September 30, 1998 from $626,000 for the comparable prior
     year quarter.  This increase was due primarily to the larger
     mortgage inventory carried by the Company during the September
     1998 quarter.


EXPENSES

     The major components of the Company's total expenses are (i)
     compensations and benefits, (ii) general and administrative
     expenses, (iii) amortization of capitalized servicing rights, and
     (iv) interest expense.  Total expenses for the three months ended
     September 30, 1998 increased by 41.6% to $6.12 million from the
     three months ended September 30, 1997.  Compensations and benefits
     were $2.59 million for the September 1998 quarter, an increase of
     25.2% over the year-ago quarter.  General and administrative
     expense increased by $961,000, or 64.8% over prior year.  These
     higher expenses were a direct result of expanding production
     operations in the quarter, partially offset by cost reduction
     measures taken by the Company over the past year.

     Amortization of capitalized servicing rights in fiscal 1999
     increased over prior years due mainly to the larger investment in
     mortgage servicing rights and higher volume of prepayments from
     refinances over the comparable prior period.
     
     Interest expense increased 45.4% to $266,000 for quarter ended
     September 1998 from $183,000 for the same period in 1997.  The
     increase was due to the larger volume of loans originated during
     the quarter.


<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS



RESULTS OF OPERATIONS:

Six months ended September 30, 1998 compared to six months ended
September 30, 1997


GENERAL

     In the six months ended September 30, 1998, the Company reported
     net income of $2.66 million or $0.47 per share, compared to net
     income of $751,000 or $0.13 per share for the same period of
     1997.  Total revenue increased by 70.9% to $16.41 million from
     $9.6 million in the comparable prior period.  The increase in net
     income was largely due to higher loan origination income and a
     greater gain on sale of mortgage loans for the six month period
     as compared to last year.


REVENUES

     For the six months ended September 30, 1998, loan origination
     revenue increased 38.9% to $2.10 million from $1.51 million for
     the six months ended September 30, 1997.  The higher loan
     origination revenue was largely due to the larger volume of new
     loans originated by the Company.

     The volume of new mortgage loan originations increased 116.4% to
     $433.51 million from $200.34 million in the comparable period
     last year.

     Loan servicing income, representing the loan servicing fees, late
     charges and other fees earned by the Company for administering
     the loans in its servicing portfolio, rose 4.1% to $3.88 million
     for the six months ended September 30, 1998 from $3.73 million
     for the same period in 1997.  The increase in servicing income is
     primarily due to the larger number of FHA and VA loans currently
     serviced by the Company, which typically carry a net service fee
     of 44 basis points.

     The following table sets forth certain information pertaining to
     the servicing portfolio of the Company for the period indicated:
<TABLE>
<CAPTION>
                                            Six Months Ended September 30,
                                            1998           1997
                                            (Dollars in thousands
                                            except average loan
                                            balance)
          <S>                               <C>            <C>
          Beginning loan service portfolio  $1,570,143     $1,583,837
          portfolio
          Add: Loans originated                433,509        200,344
                                                      
          Less: Prepayment and amortization    429,702        170,239
                                                      
          Ending loan servicing portfolio    1,573,950      1,613,942
          Sub-Servicing                         88,450         98,167
          Total servicing portfolio         $1,662,400     $1,712,109
          Average loan balance  
           (end of period)                     $94,214        $96,631

</TABLE>

     The sale of mortgages for the six months ended September 30, 1998
     resulted in a gain of $8.46 million compared to a gain of $3.20
     million for the 1997 period.  The gain is primarily attributable
     to the favorable trend in long-term interest rates in 1998.

<PAGE>
     Interest income, which reflects the interest earned on mortgage loans
     held for sale for the six months ended September 30, 1998 was
     $1.97 million, an increase of 69% over the comparable 1997
     period.  The increase was as a result of the higher volume of
     loans originated in the 1998 period.


EXPENSES

     The major components of the Company's total expenses are (i)
     compensation and benefits, (ii) general and administrative
     expenses, (iii) amortization of capitalized servicing rights, and
     (iv) interest expenses.  Total expenses for the six months ended
     September 30, 1998 increased by $3.56 million or 42.8% from the
     six months ended September 30, 1997.  Compensation and benefits
     increased 23.4% to $5 million compared to $4.05 million in the
     first six months of fiscal year 1997.  General and administrative
     expenses increased by 68.1% to $4.63 million from the comparable
     period in 1997.  The increases in these expenses were a direct
     result of expansion in loan originations and direct marketing
     effort in the first half of fiscal year 1999.

     Increase in amortization of capitalized servicing rights was
     mainly due to larger investment in servicing rights and higher
     volume of loan prepayments over prior period.

     Interest expense increased to 47.9% to $525,000 as compared to
     $355,000 in the year earlier 6 months, due primarily to the
     larger volume of loans originated during the period.


LIQUIDITY AND CAPITAL RESOURCES

     The Company's principal liquidity requirement is the funding of
     its new mortgage loans and loan origination expenses.  To meet
     these funding needs, the Company relies on warehouse lines of
     credit with banks, its own capital, and also cash flows from
     operations.

     At September 30, 1998, maximum permitted borrowings under the
     warehouse line of credit agreements with two nonaffiliated banks
     totaled $70 million and the amount outstanding was $37.85 million.
     Borrowings under these facilities are secured by mortgage loans.
     The agreements contain various covenants, including minimum net
     worth, current ratio, net income, servicing portfolio balances,
     debt to net worth ratio, and restrict the Company's ability to pay
     dividends.  The Company was in compliance with all debt covenants
     at September 30, 1998.  The Company believes that the warehouse
     agreements will be renewed when the current terms expire.

     In the first six months in fiscal year 1999, the Company
     repurchased in open market transactions 239,000 shares of its
     common stock at an aggregate cost of $1,075,000.

     The Company had stockholders' equity of $28.58 million at
     September 30, 1998.  Management believes that its current
     financing arrangements are adequate to meet its projected
     operational needs.


<PAGE>



DISCLOSURE ABOUT MARKET RISK

     The Company's earnings can be impacted significantly by the
     movement of interest rates, which is the primary component of the
     market risk to the Company.  The interest rate risk affects value
     of the capitalized mortgage servicing rights, volume of loan
     production and total net interest income earned on its mortgage
     inventory. The Company has been managing this risk by striving to
     balance its loan origination and loan servicing segments, which
     generally are counter cyclical in nature.  The overall objective
     is to offset changes in the values of the following items, such as
     the committed pipeline, mortgage loan inventory, mortgage-backed
     securities held for sale and mortgage servicing rights.  The
     Company does not speculate on the direction or movement of the
     interest rates.
     
     Based on the information available and the interest environment as
     of September 30, 1998, the Company believes that a 100 basis point
     change in long-term interest rates over a twelve month period, up
     or down and all else being constant, would increase or decrease
     the Company's gross income by approximately $1.5 million dollars.
     These estimates are limited by the fact that they are performed at
     a particular point in time and do not incorporate many other
     factors and consequently, should not be used as forecast.


YEAR 2000 ISSUES

     The Company's computing environment consists of one IBM AS/400 and
     other personal computers connected to Local Area Network.  The IBM
     AS/400 is the primary platform for the Loan Servicing Department
     processing.  Other departments, including loan processing, loan
     funding and corporate accounting, are serviced mainly by personal
     computers. Software for loan funding, loan administration and
     accounting are maintained by outside service bureaus.  These
     service bureaus have already been contacted  by the Company and
     are expected to be in compliance either by December 1998 or
     January 1999.  Modifications have also been started on the in-
     house developed management reporting application that will be
     brought into Year 2000 compliant by March 1999.
     
     The Company has made and will continue to make investments to
     identify and modify any in-house systems that are not yet Year
     2000 compliant.  These costs are being expensed by the Company
     during the period in which they are incurred.
     
     A majority of the software and applications used by the Company
     are not custom programs, and the Company believes that it will
     receive Year 2000 upgrades from the software vendors from whom the
     programs were purchased in a timely manner.  The Company, however,
     cannot be assured that these third party service providers will
     not have business interruptions or other problems which could have
     an adverse impact on the Company.  Presently, the Company does not
     have a contingency plan to handle the worst case scenarios, but it
     intends to create one by January 1999.  Based on preliminary
     information, the Company does not anticipate that the expenses
     related to achieving Year 2000 compliance will have a material
     impact on the Company's results of operations.


PROSPECTIVE TRENDS
     
     During fiscal 1999 long-term mortgage interest rates have fallen
     to the lowest levels in the last 25 years, contributing to a 116%
     increase in new loan originations over the year earlier period
     ended September 30, 1997.  Unless long-term interest rates
     unexpectedly increase, the surge in activity should help produce
     positive results for the Company going forward.

     Pricing of many traditional mortgage products, however, remains
     uneconomical and the Company still faces intense competition from
     many directions, particularly for the standard conforming
     conventional mortgage loans so coveted by many of the major
     commercial banks.  Our strategy is to instead emphasize the
 <PAGE>
     origination of FHA and VA loans and other mortgage products with much
     greater profit potential for the Company.

     As a continuing part of the Company's long-term plan, we are
     opening additional retail offices wherever such opportunity
     presents itself.  During this fiscal year we have already opened
     new offices in West Los Angeles, California and Las Vegas, Nevada.

     We believe we are appropriately positioned to take advantage of
     the market niches within which we can competitively operate, but
     we still face formidable competition and, as always, our business
     is greatly influenced by the level of interest rates.
<PAGE>


PART II.  OTHER INFORMATION.


Item 6. Exhibits and Reports of Form 8-K.

        (a)  No exhibits are filed with this report.

        (b)  The Company did not file any reports on Form 8-K during the
             quarter ended September 30, 1998.
<PAGE>
SIGNATURES


    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.


                                     FIRST MORTGAGE CORPORATION
                                     
                                     
                                     
                                     
Date:  November 8, 1998              By  S/Clement Ziroli
                                         Clement Ziroli
                                         Chairman of the Board of Directors,
                                         Chief Executive Officer
                                     
                                     
                                     
Date:  November 8, 1998              By S/Pac W. Dong
                                        Pac W. Dong
                                        Executive Vice President,
                                        Chief Financial Officer