Registration No.                                  

                          UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                             FORM S-8

                     REGISTRATION STATEMENT 
                              under
                    THE SECURITIES ACT OF 1933

                   COMPULOAN ORIGINATIONS, INC.
        (Exact name of issuer as specified in its charter)

                Delaware                               75-2072205
      (State or other jurisdiction of               (I.R.S. Employer
     incorporation or organization)              Identification Number)

   1935 East Vine Street, Suite 400, Salt Lake City, Utah 84121
 (Address of Principal Executive Offices)              (Zip Code)

            Roger P. Lund Financial Services Agreement
                     (Full title of the plan)

                         James R. Jepson
                 1935 East Vine Street, Suite 400
                    Salt Lake City, Utah 84121
             (Name and address of agent for service)

                 CALCULATION OF REGISTRATION FEE

Title of Securities
to be Registered
Amount to be
Registered
Proposed
Maximum
Offering Price
Per Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee(1)


Common Stock, par value
$.0001 per share
350,000 Shares
$ 1.25 per
Share
$ 437,500
$ 151


                                                 TOTAL FEE      $ 151

(1)  Based upon 350,000 shares of common stock granted under the plan covered by
     this Registration Statement.  The fee with respect to these share has been
     calculated pursuant to Rule 457(h) and 457(c) under the Securities Act of
     1933, as amended, and based upon the average of the bid and ask prices per
     share of the Issuer's common stock on a date within five (5) days prior to
     the date of filing this Registration Statement, as reported by the OTC
     Bulletin Board.


                                               
             <PAGE>
Part  II  -  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.  Incorporation of Documents by Reference

     The following documents are incorporated by reference in this Registration
Statement by CompuLoan Originations, Inc. (the "Company") and made a part
hereof.  All documents subsequently filed by the Company pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference in this Registration Statement and to be part hereof from the date of
filing such documents.  

     (a)  The Company's latest annual report on Form 10-KSB for the fiscal year
     ended December 31, 1995, which contains audited financial statements for
     the Company's fiscal year ended December 31, 1995.

     (b)  All other reports filed pursuant to Section 13(a) or 15(d) of the
     Exchange Act since the end of the fiscal year covered by the Company's
     documents referred to in (a) above.

Item 4.  Description of Securities.

     The Company is authorized to issue 10,000,000 shares of common stock, par
     value $.0001 per share, of which 7,079,659 shares are issued and out-
     standing as of the date hereof.  All shares of common stock have equal
     rights and privileges with respect to voting, liquidation and dividend
     rights.  Each share of common stock entitles the holder thereof to (i) one
     non-cumulative vote for each share held of record on all matters submitted
     to a vote of the stockholders; (ii) to participate equally and to receive
     any and all such dividends as may be declared by the Board of Directors
     out of funds legally available therefor; and (iii) to participate pro rata
     in any distribution of assets available for distribution upon liquidation
     of the Company.  Stockholders of the Company have no preemptive rights to
     acquire additional shares of common stock or any other securities.  The
     common stock is not subject to redemption and carries no subscription or
     conversion rights.  All outstanding shares of common stock are fully paid
     and non-assessable.

Item 5.  Interest of Named Experts and Counsel.

     Not applicable.

Item 6.  Indemnification of Directors and Officers.

     As permitted by the provisions of the General Corporation Law of the State
     of Delaware (the "Delaware Code"), the Company has the power to indemnify
     any person who was or is a party or is threatened to be made a party to any
     threatened, pending or completed action, suit or proceeding, whether civil,
     criminal, administrative or investigative, by reason of the fact that the
     person is or was a director, officer, employee or agent of the corporation
     if such officer or director acted in good faith and in a manner reasonably
     believed to be in or not opposed to the best interest of the Company.  Any
     such person may be indemnified against expenses, including attorneys' fees,
     judgments, fines and settlements to the extent they have been successful on
     the merits or otherwise in defense of any action, suit or proceeding. 
     Further, the Delaware Code permits a corporation to purchase and maintain
     liability insurance on behalf of its officers, directors, employees and
     agents.  Neither the Company's Articles of Incorporation nor By-Laws makes
     provisions for the indemnification of the Company's officers and directors
     nor for the purchase of liability insurance on behalf of its officers,
     directors, employees and agents.  The Company does not maintain any such
     liability insurance.

Item 7.  Exemption from Registration Claimed.

     Not applicable.

Item 8.  Exhibits.

     (a) The following exhibits are filed with this Registration Statement:

Exhibit No.                      Exhibit Name

            5.1     Opinion of Leonard E. Neilson, P.C.
            3.1     Consent of Jones, Jensen & Company, Independent Certified
                    Public Accountants.
            3.2     Consent of Leonard E. Neilson, P.C. (included in Exhibit
                    5.1).
               

Item 9.  Undertakings.

     The undersigned registrant hereby undertakes: 

     (1)  To file, during any period in which it offers or sells securities, a
     post-effective amendment to this Registration Statement:

          (i)  To include any additional or changed material information on the
          plan of distribution;

     (2)  For determining liability under the Securities Act, treat each post-
     effective amendment as a new registration statement of the securities
     offered, and the offering of the securities at that time to be the initial
     bona fide offering.

     (3)  File a post-effective amendment to remove from registration any of the
     securities that remain unsold at the end of the offering.

     (4)  Insofar as indemnification for liabilities arising under the
     Securities Act of 1933 (the "Act") may be permitted to directors, officers,
     and controlling persons of the small business issuer pursuant to the
     foregoing provisions, or otherwise, the small business issuer has been
     advised that in the opinion of the Securities and Exchange Commission
     such indemnification is against public policy as expressed in the Act and
     is, therefore, unenforceable.

     In the event that a claim for indemnification against such liabilities
     (other than the payment by the small business issuer of expenses incurred
     or paid by a director, officer or controlling person of the small business
     issuer in the successful defense of any action, suit or proceeding) is
     asserted by such director, officer or controlling person in connection with
     the securities being registered, the small business issuer will, unless in
     the opinion of its counsel the matter has been settled by controlling
     precedent, submit to a court of appropriate jurisdiction the question
     whether such indemnification by it is against public policy as expressed in
     the Act and will be governed by the final adjudication of such issue.<PAGE>


                            SIGNATURES

    The Registrant.  Pursuant to the requirements of the Securities Act of 1933,
the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Salt Lake City, State of Utah, on this 7th day
of August, 1996.


                                     CompuLoan Originations, Inc.
                                            (Registrant)



                              By:         /s/   Leon J. Petersen                
                                      LEON J. PETERSEN, Chairman and 
                                          Chief Executive Officer

    Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

               Signature                   Title                      Date



        /S/  Leon J. Petersen      Chairman, Chief Executive     August 7, 1996
         Leon J. Petersen            Officer and Director



        /S/  James R. Jeppson      President, Chief Operating    August 7, 1996
         James R. Jeppson            Officer and Director



        /S/  Arben K. Andersen          Director                 August 7, 1996
          Arben K. Andersen



        /S/  Stuart F. Palmer      Secretary, Chief Financial    August 7, 1996
            Stuart F. Palmer          Officer and Principal
                                       Accounting Officer
[{"type": "S-8", "sequence": "1", "secsgml_size_bytes": 10044}]
{"company-data": {"conformed-name": "COMPULOAN ORIGINATIONS INC", "cik": "0000785969", "assigned-sic": "7389", "irs-number": "752072205", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-09743", "film-number": "96605453"}, "business-address": {"street1": "1935 E VINE ST", "street2": "STE 400", "city": "SALT LAKE CITY", "state": "UT", "zip": "84121", "phone": "8012789944"}, "mail-address": {"street1": "1935 E VINE STREET", "street2": "SUITE 400", "city": "SALT LAKE CITY", "state": "UT", "zip": "84121"}, "former-company": {"former-conformed-name": "INTELLICHIP HOLDINGS CORP", "date-changed": "19940701"}}
Registration No.                                  

                          UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                             FORM S-8

                     REGISTRATION STATEMENT 
                              under
                    THE SECURITIES ACT OF 1933

                   COMPULOAN ORIGINATIONS, INC.
        (Exact name of issuer as specified in its charter)

                Delaware                               75-2072205
      (State or other jurisdiction of               (I.R.S. Employer
     incorporation or organization)              Identification Number)

   1935 East Vine Street, Suite 400, Salt Lake City, Utah 84121
 (Address of Principal Executive Offices)              (Zip Code)

            Roger P. Lund Financial Services Agreement
                     (Full title of the plan)

                         James R. Jepson
                 1935 East Vine Street, Suite 400
                    Salt Lake City, Utah 84121
             (Name and address of agent for service)

                 CALCULATION OF REGISTRATION FEE

Title of Securities
to be Registered
Amount to be
Registered
Proposed
Maximum
Offering Price
Per Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee(1)

Common Stock, par value
$.0001 per share
350,000 Shares
$ 1.25 per
Share
$ 437,500
$ 151

                                                 TOTAL FEE      $ 151

(1)  Based upon 350,000 shares of common stock granted under the plan covered by
     this Registration Statement.  The fee with respect to these share has been
     calculated pursuant to Rule 457(h) and 457(c) under the Securities Act of
     1933, as amended, and based upon the average of the bid and ask prices per
     share of the Issuer's common stock on a date within five (5) days prior to
     the date of filing this Registration Statement, as reported by the OTC
     Bulletin Board.
Part  II  -  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.  Incorporation of Documents by Reference

     The following documents are incorporated by reference in this Registration
Statement by CompuLoan Originations, Inc. (the "Company") and made a part
hereof.  All documents subsequently filed by the Company pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference in this Registration Statement and to be part hereof from the date of
filing such documents.  

     (a)  The Company's latest annual report on Form 10-KSB for the fiscal year
     ended December 31, 1995, which contains audited financial statements for
     the Company's fiscal year ended December 31, 1995.

     (b)  All other reports filed pursuant to Section 13(a) or 15(d) of the
     Exchange Act since the end of the fiscal year covered by the Company's
     documents referred to in (a) above.

Item 4.  Description of Securities.

     The Company is authorized to issue 10,000,000 shares of common stock, par
     value $.0001 per share, of which 7,079,659 shares are issued and out-
     standing as of the date hereof.  All shares of common stock have equal
     rights and privileges with respect to voting, liquidation and dividend
     rights.  Each share of common stock entitles the holder thereof to (i) one
     non-cumulative vote for each share held of record on all matters submitted
     to a vote of the stockholders; (ii) to participate equally and to receive
     any and all such dividends as may be declared by the Board of Directors
     out of funds legally available therefor; and (iii) to participate pro rata
     in any distribution of assets available for distribution upon liquidation
     of the Company.  Stockholders of the Company have no preemptive rights to
     acquire additional shares of common stock or any other securities.  The
     common stock is not subject to redemption and carries no subscription or
     conversion rights.  All outstanding shares of common stock are fully paid
     and non-assessable.

Item 5.  Interest of Named Experts and Counsel.

     Not applicable.

Item 6.  Indemnification of Directors and Officers.

     As permitted by the provisions of the General Corporation Law of the State
     of Delaware (the "Delaware Code"), the Company has the power to indemnify
     any person who was or is a party or is threatened to be made a party to any
     threatened, pending or completed action, suit or proceeding, whether civil,
     criminal, administrative or investigative, by reason of the fact that the
     person is or was a director, officer, employee or agent of the corporation
     if such officer or director acted in good faith and in a manner reasonably
     believed to be in or not opposed to the best interest of the Company.  Any
     such person may be indemnified against expenses, including attorneys' fees,
     judgments, fines and settlements to the extent they have been successful on
     the merits or otherwise in defense of any action, suit or proceeding. 
     Further, the Delaware Code permits a corporation to purchase and maintain
     liability insurance on behalf of its officers, directors, employees and
     agents.  Neither the Company's Articles of Incorporation nor By-Laws makes
     provisions for the indemnification of the Company's officers and directors
     nor for the purchase of liability insurance on behalf of its officers,
     directors, employees and agents.  The Company does not maintain any such
     liability insurance.

Item 7.  Exemption from Registration Claimed.

     Not applicable.

Item 8.  Exhibits.

     (a) The following exhibits are filed with this Registration Statement:

Exhibit No.                      Exhibit Name

            5.1     Opinion of Leonard E. Neilson, P.C.
            3.1     Consent of Jones, Jensen & Company, Independent Certified
                    Public Accountants.
            3.2     Consent of Leonard E. Neilson, P.C. (included in Exhibit
                    5.1).
               

Item 9.  Undertakings.

     The undersigned registrant hereby undertakes: 

     (1)  To file, during any period in which it offers or sells securities, a
     post-effective amendment to this Registration Statement:

          (i)  To include any additional or changed material information on the
          plan of distribution;

     (2)  For determining liability under the Securities Act, treat each post-
     effective amendment as a new registration statement of the securities
     offered, and the offering of the securities at that time to be the initial
     bona fide offering.

     (3)  File a post-effective amendment to remove from registration any of the
     securities that remain unsold at the end of the offering.

     (4)  Insofar as indemnification for liabilities arising under the
     Securities Act of 1933 (the "Act") may be permitted to directors, officers,
     and controlling persons of the small business issuer pursuant to the
     foregoing provisions, or otherwise, the small business issuer has been
     advised that in the opinion of the Securities and Exchange Commission
     such indemnification is against public policy as expressed in the Act and
     is, therefore, unenforceable.

     In the event that a claim for indemnification against such liabilities
     (other than the payment by the small business issuer of expenses incurred
     or paid by a director, officer or controlling person of the small business
     issuer in the successful defense of any action, suit or proceeding) is
     asserted by such director, officer or controlling person in connection with
     the securities being registered, the small business issuer will, unless in
     the opinion of its counsel the matter has been settled by controlling
     precedent, submit to a court of appropriate jurisdiction the question
     whether such indemnification by it is against public policy as expressed in
     the Act and will be governed by the final adjudication of such issue.
SIGNATURES

    The Registrant.  Pursuant to the requirements of the Securities Act of 1933,
the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Salt Lake City, State of Utah, on this 7th day
of August, 1996.

                                     CompuLoan Originations, Inc.
                                            (Registrant)

                              By:         /s/   Leon J. Petersen                
                                      LEON J. PETERSEN, Chairman and 
                                          Chief Executive Officer

    Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

               Signature                   Title                      Date

        /S/  Leon J. Petersen      Chairman, Chief Executive     August 7, 1996
         Leon J. Petersen            Officer and Director

        /S/  James R. Jeppson      President, Chief Operating    August 7, 1996
         James R. Jeppson            Officer and Director

        /S/  Arben K. Andersen          Director                 August 7, 1996
          Arben K. Andersen

        /S/  Stuart F. Palmer      Secretary, Chief Financial    August 7, 1996
            Stuart F. Palmer          Officer and Principal
                                       Accounting Officer