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HOME LENDING POSTS 32 PERCENT INCREASE IN ORIGINATIONS; ESTABLISHES SUBSIDIARY FOR HOME PURCHASE MORTGAGES

 TUKWILA, Wash., Oct. 4 /PRNewswire/ -- Home Lending Associates Inc., a mortgage brokering and wholesale mortgage lending firm (OTC, Electronic Bulletin Board: HMLA), continues to post record growth, with over 1,000 residential loans originated in the month of September 1993, representing aggregate volume of $100 million. Closings for the month reached over $34 million. This performance represents a 32 percent gain over originations for the month of August 1993, which were $76 million, with $29 million in closings. Home Lending reported $66 million in originations and $20 million in closings for the month of July 1993.
 David Zehm, president of Home Lending, also reports that the company has created a wholly owned subsidiary, Home Lending Real Estate Associates Inc. of Seattle, to facilitate Home Lending's continued expansion into the purchase segment of the mortgage lending market. Home Lending has been providing mortgages for home purchases through the same offices handling mortgage refinancings, a practice that will continue, while the new subsidiary will provide real estate brokerage services to the public, as well as arrange purchase financing.
 Zehm also announced the appointment of Dean G. Daniels as executive vice president of Home Lending Associates, a career sales & marketing and mortgage banking officer with experience in both the banking and servicing segments of the lending industry. Daniels will oversee operations for the company, which, as of Sept. 30, 1993, employed 190 loan officers in 14 locations in Washington, Oregon, New Mexico and Idaho. Further expansion, through both acquisition and new offices, is planned.
 -0- 10/4/93
 /CONTACT: Mark Waller, BridgeWorks Capital, 503-635-9309/
 (HMLA)


CO: Home Lending Associates Inc.;
 Home Lending Real Estate Associates Inc. ST: Washington IN: FIN SU: PER


EH-JB -- LA018 -- 8334 10/04/93 11:57 EDT
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Publication:PR Newswire
Date:Oct 4, 1993
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