<TABLE> <S> <C>

<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL  INFORMATION EXTRACTED FROM OCWEN ASSET
INVESTMENT  CORPORATION'S  CONSOLIDATED  STATEMENT  OF FINANCIAL  CONDITION  AND
STATEMENT  OF  OPERATIONS  AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<CIK>                                              0001033643
<NAME>                            OCWEN ASSET INVESTMENT CORP.
<MULTIPLIER>                                                1
<CURRENCY>                                                USD
       
<S>                                                       <C>
<PERIOD-TYPE>                                           6-MOS
<FISCAL-YEAR-END>                                 DEC-31-1998
<PERIOD-START>                                    JAN-01-1998
<PERIOD-END>                                      JUN-30-1998
<EXCHANGE-RATE>                                             1
<CASH>                                             13,100,526 <F1>
<SECURITIES>                                      415,933,375
<RECEIVABLES>                                               0
<ALLOWANCES>                                                0
<INVENTORY>                                                 0
<CURRENT-ASSETS>                                            0
<PP&E>                                                      0
<DEPRECIATION>                                              0
<TOTAL-ASSETS>                                    822,050,205
<CURRENT-LIABILITIES>                             518,483,467
<BONDS>                                                     0
<PREFERRED-MANDATORY>                                       0
<PREFERRED>                                                 0
<COMMON>                                              189,650
<OTHER-SE>                                        273,491,149
<TOTAL-LIABILITY-AND-EQUITY>                      822,050,205
<SALES>                                                     0
<TOTAL-REVENUES>                                   12,297,969 <F2>
<CGS>                                                       0
<TOTAL-COSTS>                                       2,990,372 <F3>
<OTHER-EXPENSES>                                      576,094
<LOSS-PROVISION>                                            0
<INTEREST-EXPENSE>                                  6,240,584
<INCOME-PRETAX>                                    (3,858,110) <F4>
<INCOME-TAX>                                                0
<INCOME-CONTINUING>                                (3,858,110) <F4>
<DISCONTINUED>                                              0
<EXTRAORDINARY>                                             0
<CHANGES>                                                   0
<NET-INCOME>                                       (3,858,110) <F4>
<EPS-PRIMARY>                                           (0.20)
<EPS-DILUTED>                                           (0.20)
        
<FN>
<F1>   Tag 10  includes  cash and amounts due from  depository  institutions  of
       $11,764,015 and Interest bearing deposits of $1,336,511.

<F2>   Tag 27 includes  Interest  income on Repurchase  agreements  and interest
       bearing   deposits   of   $295,648,   Securities   held  for  trading  of
       $(3,012,559),  Securities  available for sale of $16,183,217,  Commercial
       and  Multifamily  loans of $2,273,702,  Residential  loans of $2,613,031,
       Discount loans of $1,326,198,  Real estate-operaing  income of $6,576,326
       and loss on securities held for trading of $(13,957,594).

<F3>   Tag 29 includes Provision for loan losses of $206,049,  Management fee of
       $2,533,632,  Due  diligence  expenses  of $367,644  and Foreign  currency
       (gain) loss of $(116,953).

<F4>   Tag 33, 35, and 39 exclude  minority  interest  in net loss of  operating
       partnership of $321,154.
</FN>

</TABLE>