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PLAZA HOME MORTGAGE OPENS TWO NEW LOAN OFFICES IN CALIFORNIA

Mortgage Banker Moves Up Three Notches to Become California's Sixth-
 Largest Home Mortgage Lender in Second Quarter 1993
 SANTA ANA, Calif., Sept. 2 /PRNewswire/ -- Plaza Home Mortgage Corp. (NASDAQ: PHMC) today announced that it has opened two new retail loan origination offices, one at Arcadia in Southern California and one at San Jose in Northern California. Both are full-service offices, fully staffed by experienced Plaza Associates.
 Brenda Lynn, Plaza Executive Vice President, Loan Production, said, "Our strategy, in California particularly, is to build a strong presence in the home purchase market in addition to pursuing refinance activity. We believe the purchase market holds great long-term potential, and these two new offices are especially well positioned to capture a significant share of that business.
 "In both cases, we were able to hire loan production managers who are highly respected in their communities for their exceptional professionalism and commitment to service," Lynn added. "I am confident both offices will be early successes."
 Plaza was recently ranked(a) the fifth-largest originator -- by dollar volume -- of residential purchase loans in California for the second quarter of 1993, up from ninth in the previous quarter; and was ranked second in purchase loans in Southern California for the second quarter of 1993. Overall, the company was ranked the sixth-largest residential mortgage lending institution statewide in the second quarter.
 Plaza is continuing to expand into growth areas outside of California, and in 1993, has opened seven offices strategically located throughout the United States. In July, Plaza announced it had opened offices in Chicago, and McLean, Va.
 Plaza Home Mortgage is a mortgage banking company specializing in the origination, sale and servicing of one to four-family residential mortgage loans. Plaza conducts mortgage banking activities through its 33 loan origination offices in 10 states, and is ranked the sixth- largest mortgage loan originator in California, the 18th-largest nationwide.
 (a) Ranking by Dataquick Information Systems, La Jolla, Calif.
 For information on Plaza by Fax, Dial 800-PRO-INFO, ext. 132.
 -0- 9/2/93
 /CONTACT: Pam Albo, investor relations of Plaza Home Mortgage, 714-564-3002; or Nick Farina (Chicago), 312-266-7800; or Regina Ryan (NY), 212-661-8030; or John H. Shaw (LA), 818-783-2400, all of Financial Relations Board/
 (PHMC)


CO: Plaza Home Mortgage Corp. ST: California IN: FIN SU:

MF-BP -- LA005 -- 8275 09/02/93 09:06 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
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