<TABLE> <S> <C>

<ARTICLE>                     5
<LEGEND>
This schedule contains summary financial information from Ocwen Asset Investment
Corp's consolidated statement of financial condition and statement of operations
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<RESTATED>
<CIK>                           0001033643
<NAME>                        Ocwen Asset Investment Corp.
<MULTIPLIER>                                    1,000
<CURRENCY>                                        USD

<S>                             <C>
<PERIOD-TYPE>                                   9-MOS
<FISCAL-YEAR-END>                         DEC-31-1997
<PERIOD-START>                            JAN-01-1997
<PERIOD-END>                              SEP-30-1997
<EXCHANGE-RATE>                                     1
<CASH>                                    138,472,627<F1>
<SECURITIES>                               89,520,700
<RECEIVABLES>                                       0
<ALLOWANCES>                                        0
<INVENTORY>                                         0
<CURRENT-ASSETS>                                    0
<PP&E>                                              0
<DEPRECIATION>                                      0
<TOTAL-ASSETS>                            291,831,251
<CURRENT-LIABILITIES>                       6,629,437
<BONDS>                                             0
<PREFERRED-MANDATORY>                               0
<PREFERRED>                                         0
<COMMON>                                      191,250
<OTHER-SE>                                285,010,564
<TOTAL-LIABILITY-AND-EQUITY>              291,831,251
<SALES>                                             0
<TOTAL-REVENUES>                            8,061,782<F2>
<CGS>                                               0
<TOTAL-COSTS>                               1,346,726<F3>
<OTHER-EXPENSES>                              304,560
<LOSS-PROVISION>                                    0
<INTEREST-EXPENSE>                                  0
<INCOME-PRETAX>                             6,410,496
<INCOME-TAX>                                        0
<INCOME-CONTINUING>                         6,410,496
<DISCONTINUED>                                      0
<EXTRAORDINARY>                                     0
<CHANGES>                                           0
<NET-INCOME>                                6,410,496
<EPS-PRIMARY>                                     .34<F4>
<EPS-DILUTED>                                     .33<F5>

<FN>
<F1>  Tag 11  includes  Cash and  Amounts due from  depository  institutions  of
      $10,850 Interest-earning  Deposits of $8,461,777 and Repurchase Agreements
      of $130,000,000.
<F2>  Tag 28 includes  Interest  income on  Repurchase  agreements  and Interest
      earning  deposits  of  $4,150,857,   Securities   Available  For  Sale  of
      $3,497,356  Loans of $5,565,  and Discount Loans of $340,966 and operating
      income of $67,038.
<F3>  Tag 30  includes  Management  Fees of  $1,060,914  and  Loan  expenses  of
      $285,812.
<F4>  Tag 41  EPS-Primary  has been  restated in  accordance  with SFAS No. 128,
      "Earnings per Share."
<F5>  Tag 42  EPS-Diluted  has been  restated in  accordance  with SFAS No. 128,
      "Earnings per Share."
</FN>


</TABLE>