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FARRAGUT MORTGAGE CO., INC. REPORTS AN 83 PERCENT INCREASE IN PRODUCTION ACTIVITY FOR THE SECOND QUARTER

 FARRAGUT MORTGAGE CO., INC. REPORTS AN 83 PERCENT INCREASE
 IN PRODUCTION ACTIVITY FOR THE SECOND QUARTER
 MANSFIELD, Mass., July 27 /PRNewswire/ -- Farragut Mortgage Co., Inc. (AMEX: FMS) reported today that its loan applications and registrations for the second quarter were $47.7 million, an increase of 83 percent over the $26.1 million in the first quarter. Applications and registrations for the comparable period in 1991 were $2.8 million. Closings for the second quarter were $22.6 million, a 176 percent increase over the $8.2 million in the first quarter. Closings for the comparable period in 1991 were $1.1 million.
 Edward D. Lagarde, president and chief executive officer, stated, "Farragut continues to exceed its production goals for retail and wholesale so far this year."
 Farragut Mortgage Co., Inc. is engaged in the residential mortgage banking business, which involves the origination, purchase, sale and servicing of one- to four-family mortgage loans.
 -0- 7/27/92
 /CONTACT: Edward D. Lagarde, president and chief executive officer, Farragut Mortgage Co., Inc. 508-337-8605/
 (FMS) CO: Farragut Mortgage Company ST: Massachusetts IN: FIN SU: ERN


TM -- NE012 -- 3615 07/27/92 15:19 EDT
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Publication:PR Newswire
Date:Jul 27, 1992
Words:191
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