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MARGARETTEN FINANCIAL NAMES TERRY WILLIAMS EXECUTIVE VICE PRESIDENT

 PERTH AMBOY, N.J., March 15 /PRNewswire/ -- Margaretten Financial Corporation (NYSE:MRG), a leading residential mortgage banking company, announced that Mr. Terence H. Williams, 45, has joined the company as executive vice president and national production manager, retail.
 Prior to joining Margaretten, Mr. Williams served as executive vice president for all residential production operations at GMAC Mortgage Corporation located in Elkins Park, Pennsylvania. He also served as director on GMACM's Board of Directors. He joins Margaretten following 16 years of service at the GMACM organization. Mr. Williams started his career as a mortgage loan officer and progressed to branch manager and regional manager before being named to head all production.
 Mr. Williams will oversee Margaretten's retail origination system, consisting of 63 branches and satellite offices in 18 states. The company is the 14th largest producer in the United States and had retail originations of approximately $6.0 billion in 1992, as well as wholesale and correspondent purchases totalling another $1.8 billion.
 "We are excited to have the benefit of Terry Williams' experience and management skills as we continue to shape and grow our core retail business," said David A. Frank, president and chief operating officer of Margaretten Financial.
 Margaretten Financial Corporation, through its mortgage banking subsidiary, Margaretten & Company, Inc. engages in the origination, purchase, sale and servicing of residential mortgage loans.
 -0- 3/15/91
 /CONTACT: Bruce Schnelwar, executive vice president & CFO of Margaretten Financial, 908-324-4183, or Michele Katz or Jill Moskowitz of Morgen-Walke Associates, 212-986-5900, for Margaretten Financial/
 (MRG)


CO: Margaretten Financial Corporation ST: New Jersey IN: FIN SU: PER

TM -- NY005 -- 5835 03/15/93 07:30 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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