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AMERICAN RESIDENTIAL MORTGAGE REPORTS STRONG FIRST QUARTER ORIGINATIONS AND PIPELINE

 LA JOLLA, Calif., April 12 /PRNewswire/ -- American Residential Mortgage Corp., the wholly owned subsidiary of American Residential Holding Corp. (NASDAQ: AMRS) reported today that new loan applications totaled $2.70 billion for the first quarter of 1993, compared to $2.44 billion for the same period in 1992. Loan closings for the first quarter ended March 31, 1993, were $1.16 billion, compared to $1.22 billion for the same period in 1992. The company's pipeline of loans-in-process was $1.85 billion as of March 31, 1993, 27 percent higher than $1.46 billion one year ago.
 John Robbins, chairman and chief executive officer of American Residential said, "Beginning in February there has been a significant increase in new loan applications due to heavy refinance demand and increased home purchase activity. The company is entering the second quarter with a strong pipeline. Because of favorable market conditions, we expect home purchase loan activity to grow in both the second and third quarters as the peak home `buying season' approaches. While first quarter 1993 closings were comparable to 1992 levels, we anticipate that 1993 loan closings will increase over the $5.5 billion produced in 1992." Robbins cited a larger branch system, increased market share and a housing recovery as reasons for the expected growth.
 The company's servicing portfolio grew to $9.75 billion at March 31, 1993, from $6.77 billion one year earlier.
 American Residential Holding Corp. recently announced the completion of a 2,500,000 share common stock offering priced at $20 per share. Eighty percent of the proceeds went to the company and are to be used to expand originations and servicing.
 American Residential is headquartered in La Jolla. It has 54 branch offices throughout the United States.
 AMERICAN RESIDENTIAL
 Volume Summary
 First Quarter First Quarter
 1993 1992
 Total loan originations $1.16 billion $1.22 billion
 Refinance Percentage 63 pct. 70 pct.
 Total loan applications $2.70 billion $2.44 billion
 Pipeline of loans-in-
 process at March 31
 Aggregate principal $1.85 billion $1.46 billion
 Loan Units 14,649 12,061
 Loan servicing portfolio
 at March 31(a) $9.75 billion $6.77 billion
 Weighted average
 interest rate 8.6 pct. 9.4 pct.
 (a) Excludes warehouse loans and subservicing contracts.
 The above data reflects current operating statistics and does not constitute all factors impacting the quarterly and annual financial results of the company. All figures are unaudited and may be adjusted in the financial statements which will be provided on a quarterly basis.
 -0- 4/12/93
 /CONTACT: Judith A. Berry, 619-535-4425, or Clay Strittmatter, 619-535-4433, or Kasey Emmel, 619-535-4310, all of American Residential/
 (AMRS)


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


EH -- SD001 -- 4715 04/12/93 11:02 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
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