Advanced Financial Inc. announces mortgage origination results for August 1996.SHAWNEE, Kan.--(BUSINESS WIRE)--Sept. 18, 1996--Advanced Financial Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AVF AVF Arteriovenous Fistula AVF All Volunteer Force AVF American Vineyard Foundation AVF Azimuthally Varying Field AVF Ada Validation Facility AVF Augmented Voltage Foot (EKG lead) AVF Average Value Factor ), reported mortgage origination results for the month ended August 1996. The company had 178 new loan applications for $14 million for August compared to 170 new loan applications for $14.9 million for the same period a year ago. Loan closings totaled $12.1 million for August compared to $10.6 million for the same period a year ago, an increase of 14%. During the past 12 months, the company has closed approximately $139 million in new loan production compared to $57 million for the previous 12 months, an increase of 144%. Bill Moffatt, the company's president, commented: "The company's strategy for generating retail loan originations directly within real estate offices is starting to pay off. The trend in application volume and loan closings continues to be very positive. We have concentrated our efforts over the last few months to closing unproductive locations and increasing the loan production in our remaining locations. This has allowed us to reduce our overhead while maintaining our loan production levels. We have eliminated approximately 10 sites during the past 90 days and significantly reduced the overhead costs associated with those sites. I anticipate that with its current sites and future installations, 1996 loan production will exceed $200 million." Advanced Financial Inc. (AFI AFI American Film Institute AFI Awaiting Further Instructions AFI Armed Forces Insurance AFI A Fire Inside (band) AFI Air Force Instruction AFI Australian Film Institute AFI Agencia Federal de Investigación ) is an American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. listed holding company with its principal operations conducted through the wholly owned AFI Mortgage Corp. (AFM (Atomic Force Microscope) A device used to image materials at the atomic level. AFMs are used to solve processing and materials problems in electronics, telecom, biology and other high-tech industries. ) subsidiary. AFIM AFIM Association for Independent Music is a full service residential mortgage banking company originating and servicing single-family first- and second-mortgage loans. CONTACT: Advanced Financial Inc., Shawnee Brad Morris, Secretary/Treasurer, 913/441-2466 |
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