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AMERICAN RESIDENTIAL MORTGAGE CORP.

 LA JOLLA, Calif., July 1 /PRNewswire/ -- American Residential Mortgage Corp., one of the country's leading mortgage bankers, announced the formation of a Midwest Division to be headed by Anthony C. Neal, senior vice president. The division was created to take advantage of the growing housing market in the region, and it will complement the company's California, Western and Eastern divisions. Its headquarters will be located in Cincinnati.
 The division will be headed by Neal, a mortgage banking executive with 28 years of residential lending experience. Neal joined American Residential last year as vice president and regional manager. Neal served as senior vice president with Star Banc Corp. and senior vice president with PNC/Central Banc Corp. He will report to James Gilcrest, executive vice president, National Production.
 "Our recent branch openings in this region are part of our on-going strategy to expand into new geographic markets," said Gilcrest. "It's clear that consumer confidence is stable in these areas. Housing starts have risen to 10.2 percent in the Midwest. Of all the regions in the United States, this area has shown the steadiest growth." The company recently expanded in the Midwest by opening two regional offices and two satellites in Illinois, Ohio, Indiana and Missouri.
 The National Association of Home Builders recently reported that 20 of the 25 most affordable housing markets in the country are found in the Midwest. These factors provide the greatest opportunity in the last decade for creating a healthy home buying environment.
 American Residential Mortgage Corp., headquartered in La Jolla, originated $5.5 billion in home loans in 1992 and serviced a loan portfolio of $9.7 billion at Dec. 31, 1992. American Residential Mortgage is a subsidiary of American Residential Holding Corp. (NASDAQ: AMRS).
 -0- 7/1/93
 /EDITOR'S NOTE: Photograph of Tony Neal available by calling 619-535-4310./
 /CONTACT: Judith A. Berry, CFO, 619-535-4425, or Clay Strittmatter, shareholder relations, 619-535-4433, or Kasey Emmel, media relations, 619-535-4310, all of American Residential Mortgage/
 (AMRS)


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


LM-LS -- SD005 -- 7796 07/01/93 13:56 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:351
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