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AMERICAN RESIDENTIAL TERMINATES AGREEMENT TO PURCHASE FOSTER MORTGAGE

 SAN DIEGO, Sept. 16 /PRNewswire/ -- American Residential Mortgage Corp. announced today that it had terminated its discussions with Foster Mortgage Corp. to purchase substantially all of Foster's assets in Fort Worth, Texas. American Residential Mortgage Corp., one of the country's largest mortgage bankers, is a subsidiary of American Residential Holding Corp.
 American Residential explained that disagreements on fundamental issues resulted in the termination of negotiations. The transaction was to include a $3.5 billion servicing portfolio and a three-building, 145,000 square-foot complex in Fort Worth.
 American Residential Mortgage Corp., headquartered in San Diego, has 71 branches throughout the United States. The company originates, sells and services residential mortgages.
 -0- 9/16/93 R
 /CONTACT: Kasey Emmel, media relations, 619-535-4310/


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

NY-LM -- LA025R -- 3708 09/20/93 13:24 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
Words:139
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