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HOME LENDING ASSOCIATES INC. COMPLETES CORPORATE REORGANIZATION

 TUKWILA, Wash., Aug. 2 /PRNewswire/ -- Home Lending Associates Inc. has completed its corporate reorganization with the former Hilltop Products Inc./DeMark Financial Inc. (OTC: DEMK), resulting in Home Lending becoming a publicly held company. As a result of the reorganization, the former shareholders of Home Lending were issued 3,400,000 shares of common stock, which represents approximately 55 percent of the 6,201,000 shares now issued and outstanding.
 The name of the combined enterprise is being changed to Home Lending Associates Inc. and its common stock will be traded in the over-the- counter market under a new symbol.
 As part of the reorganization, Home Lending executives, including David E. Zehm, chairman and president; Michael Culver, vice president- marketing; and Wayne Cady, vice president-special loans, joined directors, Mark T. Waller and David J. Barish, Portland, Ore.-area businessmen, on the board of directors of the surviving company. Zehm, age 45, who will continue as president, chairman and chief executive officer of the combined enterprise, is a University of Washington accounting graduate with more than 15 years' experience in the mortgage business.
 Home Lending was organized in November 1990, and entered the wholesale mortgage business in mid-1992 to take advantage of the expanding market of mortgage brokering and wholesale mortgage lending. The Seattle area-based firm has grown from $7 million in residential loan originations for the month of July 1992 to $44 million in originations for June 1993. Home Lending has 125 loan officers operating out of 12 offices in Washington, Oregon and Idaho.
 Home Lending earns income on real estate loans in the form of processing fees, discount points and administrative fees from mortgage customers as well as pricing, servicing and volume incentive income from the investor network funding the loans. Home Lending hopes to take advantage of its new publicly held status to seek capital to fund its own loans and to diversify and accelerate its expansion efforts. By having a sufficient capital base to become a direct wholesale lender, Home Lending will be in a position to share in the servicing premiums available on conventional and FHA residential loans.
 -0- 8/2/93
 /CONTACT: Mark T. Waller of BridgeWorks Capital, 503-635-9309/


CO: Home Lending Associates Inc. ST: Washington IN: SU: RCN

EH-BP -- LA020 -- 8344 08/02/93 11:57 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
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