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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [x]Form 10-Q []Form N-
SAR
For Period Ended: December 31, 1996
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
Nothing in this form shall be construed to imply that
the Commission has verified any information contained
herein.
If the notification relates to a portion of the filing
checked above, identify the Item(s) to which the
notification relates: N/A
Part 1-Registrant Information
Metropolitan Mortgage & Securities Co., Inc.
Full Name of Registrant
(Commission File No. 2-63708)
Former Name if Applicable N/A
West 929 Sprague Avenue
Address of Principal Executive Office (Street and
Number)
Spokane, WA 99204
City, State and Zip Code
Part II-Rules 12b-25 (b) and (c)
If the subject report could not be filed without
unreasonable effort or expense and the registrant seeks
relief pursuant to Rule 12b-25(b), the following should be
completed. /X/
(a) The reasons described in reasonable detail in Part
III of this form could not be eliminated without
unreasonable effort or expense;
(b) The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-F, 11-K or Form N-
SAR, or portion thereof will be filed on or before the
fifteenth calendar day following the
prescribed due date; or the subject quarterly report or
transition report on Form 10-Q or portion thereof will be
filed on or before the fifth calendar day following the
prescribed due date; and
(c) The accountant's statement or other exhibit
required by
Rule 12b-25(c) has been attached if applicable.
Part III-Narrative
State below in reasonable detail the reasons why Form 10-K,
20-F, 11-K, 10-Q, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
The Registrant's personnel primarily responsible for
preparation of the Report did not have adequate time to
prepare the report due to their protracted involvement in
the preparation of a registration statement on behalf of the
Registrant.
Part IV-Other Information
(1) Name and telephone number of person to contact in
regard to this notification Susan A. Thomson
(Name)
(509) 838-3111
(Area Code) (Telephone Number)
(2) Have all other periodic reports required under
section 13 or 15(d) of the Securities Exchange Act of 1934
or section 30 of the Investment Company Act of 1940 during
the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed?
If the answer is no, identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in
results of
operations from the corresponding period for the last fiscal
year will be reflected by the earnings statements to be
included in the subject report or portion thereof?
[ ] Yes [X] No
If so: attach an explanation of the anticipated change,
both narratively and quantitatively, and, if appropriate,
state the reasons why a reasonable estimate of the results
cannot be made.
Metropolitan Mortgage & Securities Co., Inc.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by
the undersigned thereunto duly authorized.
/s/ Susan Thomson
Date: May 9, 1997 By
_____________________________
Susan Thomson
Vice President
INSTRUCTION: The form may be signed by an executive officer
of the registrant or by any other duly authorized
representative. The name and title of the person signing the
form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an
authorized representative (other than an executive officer),
evidence of the representative's authority to sign on behalf
of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute
Federal Criminal Violations (see 18 U.S.C. 1001).
