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AMERICAN RESIDENTIAL POSTS $843 MILLION IN AUGUST LOAN ORIGINATIONS; RECORD PIPELINE OF LOANS IN PROCESS

 LA JOLLA, Calif., Sept. 8 /PRNewswire/ -- American Residential Mortgage Corp., wholly owned subsidiary of American Residential Holding Corp. (NASDAQ: AMRS), today announced loan originations of $843 million for August, 88 percent higher than August of 1992. New loan applications totaled $1.5 billion for August, resulting in a pipeline of loans-in-process of almost $2.3 billion at month end, 42 percent higher than the same point in time in 1992. Production increased in all segments of the origination business during August as compared to the same month last year. The recently expanded correspondent loan purchase program accounted for 33 percent of total originations in August.
 Year-to-date loan originations were $5 billion, 59 percent above the $3.2 billion for the first eight months in 1992. Year-to-date loan applications totaled $8.6 billion, a 51 percent increase over the same point in time last year.
 "Both home purchase originations and refinancing activity are strong due to the lowest interest rates in 23 years," according to John M. Robbins Jr., president and chief executive officer. "More people today can qualify to purchase a home. Our new branches, such as those in the Midwest, are already operating very efficiently and are recording high levels of loan originations. In many existing branches, such as Phoenix, and New Haven, Conn., we are setting record levels."
 American Residential Mortgage Corp., headquartered in La Jolla, has 71 branches throughout the United States. The company originates, sells, and services residential mortgages.
 AMERICAN RESIDENTIAL MORTGAGE CORP.
 Business Highlights
 (Dollars in Millions)
 Eight Months
 Ended Aug. 31,
 August '93 August '92 1993 1992
 Loan Originations
 (Fundings)
 Retail $366 $255 $2,366 $1,697
 Wholesale 199 188 1,667 1,399
 Correspondent 278 6 1,005 65
 Total originations $843 $449 $5,038 $3,161
 Percentage refinance
 originations 69.0 pct. 63.9 pct. 67.6 pct. 62.4 pct.
 New loan applications $1,491 $1,001 $8,599 $5,704
 As of Aug. 31,
 1993 1992
 Pipeline of loans in process $2,281 $1,611
 Owned servicing (excluding
 warehouse loans and subservicing) $11,949 $8,482
 Delinquency Ratio (30 days and over):
 Including RTC 92-7 3.7 pct. N/A
 Excluding RTC 92-7 2.0 pct. 2.7 pct.
 Foreclosure Ratio:
 Including RTC 92-7 0.7 pct. N/A
 Excluding RTC 92-7 0.4 pct. 0.4 pct.
 NOTE: The above operating statistics do not constitute all factors impacting the quarterly and annual financial results of the company. All figures above are unaudited and may be adjusted in the reported financial statements of the company, which are provided by the company quarterly. The company makes no commitment to update this information for changes in circumstances or events which occur subsequent to the date of its release.
 -0- 9/8/93
 /CONTACT: Judith A. Berry, CFO, 619-535-4425; Clay Stritmatter, Shareholder Relations, 619-535-4433; or Kasey Emmel, Media Relations, 619-535-4310/
 (AMRS)


CO: American Residential Mortgage Corp.; American Residential
 Holding Corp. ST: California IN: FIN SU:


JB-LM -- SD001 -- 9877 09/08/93 13:47 EDT
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Date:Sep 8, 1993
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