NSAR-B

      PAGE  1
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000 C000000 795640
000 D000000 N
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000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 OPPENHEIMER MORTGAGE INCOME FUND
001 B000000 811-4712
001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
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002 D020000 0203
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020 A000001 FIRST BOSTON CORP. (THE)
020 B000001 13-5659485
020 C000001    117
020 A000002 FIRST CHICAGO CAPITAL MARKET
020 B000002 36-3595942
020 C000002     18
020 A000003 GOLDMAN, SACHS & CO.
020 B000003 13-5108880
020 C000003     10
020 A000004 MORGAN STANLEY & CO., INC.
020 B000004 13-2655998
020 C000004      9
020 A000005 LEHMAN BROTHERS, INC.
020 B000005 13-2518466
020 C000005      4
020 A000006 BEAR SECURITIES CORP.
020 B000006 13-3299429
020 C000006      3
020 A000007 MORGAN KEEGAN & CO., INC.
020 B000007 64-0474907
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      PAGE  2
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022 B000003 13-2655998
022 C000003      7795
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022 B000005 64-0474907
022 C000005      1481
022 D000005      3800
022 A000006 BEAR SECURITIES CORP.
022 B000006 13-3299429
022 C000006         0
022 D000006      4069
022 A000007 KIDDER, PEABODY & CO., INC.
022 B000007 13-5650440
022 C000007      1230
022 D000007         0
022 A000008 SALOMON BROTHERS, INC.
022 B000008 13-3082694
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      PAGE  7
SIGNATURE   GEORGE C. BOWEN                              
TITLE       TREASURER           
 

EX-27

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

 

<ARTICLE> 6
<CIK> 0000795640
<NAME> OPPENHEIMER MORTGAGE INCOME FUND - CLASS A
       
                             
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          SEP-30-1995
<PERIOD-START>                             OCT-01-1994
<PERIOD-END>                               JUL-27-1995
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       0
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                          5998960
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         0
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              6545386
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  900213
<NET-INVESTMENT-INCOME>                        5645173
<REALIZED-GAINS-CURRENT>                     (1090754)
<APPREC-INCREASE-CURRENT>                      4221284
<NET-CHANGE-FROM-OPS>                          8775703
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      5779710
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        2674297
<NUMBER-OF-SHARES-REDEEMED>                    3229404
<SHARES-REINVESTED>                             299500
<NET-CHANGE-IN-ASSETS>                               0
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (1779021)
<OVERDISTRIB-NII-PRIOR>                         390141
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           446504
<INTEREST-EXPENSE>                               28145
<GROSS-EXPENSE>                                 900213
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                            13.10
<PER-SHARE-NII>                                    .90
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .90
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

 

EX-27

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

 

<ARTICLE> 6
<CIK> 0000795640
<NAME> OPPENHEIMER MORTGAGE INCOME FUND - CLASS B
       
                             
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          SEP-30-1995
<PERIOD-START>                             OCT-01-1994
<PERIOD-END>                               JUL-27-1995
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       0
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                           207809
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         0
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              6545386
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  900213
<NET-INVESTMENT-INCOME>                        5645173
<REALIZED-GAINS-CURRENT>                     (1090754)
<APPREC-INCREASE-CURRENT>                      4221284
<NET-CHANGE-FROM-OPS>                          8775703
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      5779710
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         398356
<NUMBER-OF-SHARES-REDEEMED>                     144764
<SHARES-REINVESTED>                              13191
<NET-CHANGE-IN-ASSETS>                               0
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (1779021)
<OVERDISTRIB-NII-PRIOR>                         390141
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           446504
<INTEREST-EXPENSE>                               28145
<GROSS-EXPENSE>                                 900213
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                            13.10
<PER-SHARE-NII>                                    .82
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .82
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

 

EX-2

6.       ACQUISITION OF OPPENHEIMER MORTGAGE INCOME FUND

         On July 27, 1995, the Fund acquired all of the net assets of
Oppenheimer Mortgage Income Fund, pursuant to an Agreement and Plan of
Reorganization approved by the Oppenheimer Mortgage Income Fund shareholders on
July 12, 1995. The Fund issued 8,262,838 and 683,099 shares of beneficial
interest for Class A and Class B, respectively, valued at $77,918,563 and
$6,434,794 in exchange for the net assets, resulting in combined Class A net
assets of $385,440,401 and Class B net assets of $6,806,465 on July 27, 1995.
The exchange qualifies as a tax-free reorganization for federal income tax
purposes.