AMERICAN HOME MORTGAGE HOLDINGS INC
3, 1999-10-08
MORTGAGE BANKERS & LOAN CORRESPONDENTS
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                                     FORM 3
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

                     Filed pursuant to Section 16(a) of the
                    Securities Exchange Act of 1934, Section
                       17(a) of the Public Utility Holding
                     Company Act of 1935 or Section 30(f) of
                       the Investment Company Act of 1940

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           OMB Approval
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OMB Number:          3235-0104
Expires:     December 31, 2001
Estimated average burden
hours per response.........0.5
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(Print or Type Responses)
1. Name and Address of Reporting Person*

     STRAUSS MICHAEL
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     (Last)          (First)          (Middle)

     C/O AMERICAN HOME MORTGAGE CORP.  12 E. 49TH STREET
     ----------------------------------------------------------------
     (Street)

     NEW YORK, NEW YORK       10017
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     (City)          (State)           (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)

SEPTEMBER 30, 1999

3. IRS or Social Security Number of Reporting Person
   (Voluntary)

4. Issuer name and Ticker or Trading Symbol

AMERICAN HOME MORTGAGE HOLDINGS, INC.; AHMH

5. Relationship of Reporting Person(s) to Issuer
   (Check all applicable)

                 /X/ Director
                 /X/ 10% Owner
                 /X/ Officer (give title below)
                 --  Other (specify below)

PRESIDENT AND CHIEF EXECUTIVE OFFICER

6. If Amendment, Date of Original (Month/Day/Year)

7. Individual or Joint/Group Filing
   (Check applicable Line)

      /X/ Form Filed by One Reporting Person
          Form Filed by More than One Reporting Person

              Table I Non-Derivative Securities Beneficially Owned

1. Title of Security   2. Amount of    3. Ownership        4. Nature of Indirect
   (Instr. 4)             Securities      Form: Direct        Beneficial
                          Beneficially    (D) or Indirect     Ownership
                          Owned           (I) (Instr. 5)      (Instr. 5)
                          (Instr. 4)

   COMMON STOCK           5,089,606          D

<TABLE>

Reminder:  Report on a separate line for each class of  securities  beneficially
owned directly or indirectly.
*If the  form is  filed  by more  than one  reporting  person,  see  Instruction
5(b)(v).


Potential persons who are to respond to the collection of information  contained
in this form are not  required to respond  unless the form  displays a currently
valid OMB control number.

<CAPTION>

              Table II-- Derivative Securities Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)

<S>              <C>                 <C>                        <C>          <C>               <C>
1. Title of      2. Date Exer-       3. Title and Amount of     4. Conver-   5. Owner-          6. Nature of
   Derivative       cisable and         Securities Underlying      sion or      ship Form         Indirect
   Security         Expiration          Derivative Security        Exercise     of Deriv-         Beneficial
   (Instr. 4)       Date                (Instr. 4)                 Price of     ative             Ownership
                    (Month/Day/Year)                               Deri-        Security:         (Instr. 5)
                                                                   vative       Direct (D) or
                                                                   Security     Indirect (I)
                                                                                (Instr. 5)
</TABLE>
<TABLE>
<S>              <C>       <C>       <C>            <C>         <C>          <C>
                 Date      Expira-   Title          Amount or
                 Exer-     tion                     Number of
                 cisable   Date                     Shares


</TABLE>


**Intentional  mistatements or omissions of facts  constitute  Federal  Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:   File three copies of this Form, one of which must be manually signed. If
        space is insufficient, see Instruction 6 for procedure

/s/ Michael Strauss
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**Signature of Reporting Person

10/7/99
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Date




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