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AMERICAN RESIDENTIAL POSTS $707 MILLION IN JULY LOAN ORIGINATIONS; PIPELINE OF LOANS IN PROCESS AT RECORD LEVELS

 LA JOLLA, Calif., Aug. 9 /PRNewswire/ -- American Residential Mortgage Corp., wholly owned subsidiary of American Residential Holding Corp. (NASDAQ: AMRS) today announced loan originations of $707 million for July, 110 percent higher than July of 1992. New loan applications totaled $1.2 billion for July, resulting in a pipeline of loans-in- process of almost $2 billion at month end, 59 percent higher than the same period in 1992. Production increased in all segments of the origination business during July as compared to the same month last year with retail up 72 percent, wholesale up 37 percent, and the correspondent division increasing by a factor of 36 to account for 26 percent of total originations in July.
 Year-to-date loan originations were $4.2 billion, 55 percent above the $2.7 billion, for the first seven months in 1992. Year-to-date new loan applications totaled $7.1 billion, a 51 percent increase over the same period last year.
 "A favorable interest rate environment continues to stimulate both refinancing and home sales," according to John M. Robbins Jr., president and chief executive officer. "Our market penetration strategies are paying off as we quickly establish a presence in new areas of the United States and fortify our presence in existing markets. We continue to record strong levels of applications and to maintain a substantial application pipeline. We expect high levels of loan originations continuing into the third and fourth quarters of the year."
 The company noted that its servicing portfolio was close to $11 billion at July 31, 1993, up 34 percent from a year ago. On Aug. 5, American Residential announced it had signed a letter of intent to purchase substantially all of the assets of Foster Mortgage Co., in Fort Worth, Texas, primarily a mortgage loan servicing operation, with approximately $3 billion in its servicing portfolio.
 American Residential Mortgage Corp., headquartered in La Jolla, has 63 branches throughout the United States. The company originates, sells and services residential mortgages.
 AMERICAN RESIDENTIAL MORTGAGE CORP.
 Business Highlights
 (Dollars in Millions)
 Seven Months Ended
 July 31,
 July '93 July '92 1993 1992
 Loan originations
 (fundings):
 Retail $317 $184 $2,000 $1,441
 Wholesale 203 148 1,468 1,211
 Correspondent 187 5 727 59
 Total originations $707 $337 $4,195 $2,711
 Percentage refinance
 originations 63.7 pct 50.7 pct 67.4 pct 62.1 pct
 New loan applications $1,245 $835 $7,110 $4,705
 As of July 31,
 1993 1992
 Pipeline of loans in process $1,998 $1,257
 Owned servicing (excluding
 warehouse loans and subservicing) $10,987 $8,218
 Delinquency ratio (30 days and over):
 Including RTC 92-7 4.4 pct N/A
 Excluding RTC 92-7 2.4 pct 2.2 pct
 Foreclosure ratio:
 Including RTC 92-7 0.8 pct N/A
 Excluding RTC 92-7 0.5 pct 0.5 pct
 NOTE: The above operating statistics do not constitute all factors impacting the quarterly and annual financial results of the company. All figures above are unaudited and may be adjusted in the reported financial statements of the company, which are provided by the company quarterly. The company makes no commitment to update this information for changes in circumstances or events which occur subsequent to the date of its release.
 -0- 8/9/93
 /CONTACT: Judith A. Berry, CFO, 619-535-4425, 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:


LS-JB -- SD002 -- 0825 08/09/93 14:50 EDT
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Date:Aug 9, 1993
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