LIST OF SUBSIDIARIES
Published on March 24, 1997
Exhibit 21.1
Resource Mortgage Capital, Inc.
List of Subsidiaries
As of December 31, 1996
Multi-Family Finance Corporation
Issuer Holding Corporation
Multi-Family Capital Access One, Inc.
Resource Finance Co. One
Resource Finance Co. Two
SHF Corp.
ND Holding Co.
Merit Securities Corporation
** Dynex Holding, Inc.
Dynex Financial, Inc.
National Model Homes, Inc.
KBOne, Inc.
Dynex Commercial, Inc.
Multi-Family Capital Markets
Real Estate Tax Fund
SMFC Funding Corporation
MSC I L.P.
Dynex Securities Corporation
NOTE: All companies were incorporated in Virginia except for Dynex
Holding, Inc. (Delaware).
** Resource Mortgage Capital, Inc. has a non-voting preferred stock
interest in these companies.