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LOAN AMERICA DOUBLES QUARTERLY RESIDENTIAL MORTGAGE VOLUME; RECORD MARCH PRODUCTION; FIRST QUARTER EARNINGS EXPECTED AT NEAR $1.3 MILLION

LOAN AMERICA DOUBLES QUARTERLY RESIDENTIAL MORTGAGE VOLUME; RECORD MARCH PRODUCTION; FIRST QUARTER EARNINGS EXPECTED AT NEAR $1.3 MILLION
 MIAMI LAKES, Fla., April 2 /PRNewswire/ -- Loan America Financial Corporation (NASDAQ-NMS: LAFCB, a publicly owned residential mortgage banking firm, has achieved record loan volumes for the first quarter of 1992 and expects its net earnings for the period to be the highest in its history.
 The three-month total of $814 million in home mortgages for January through March is 98 percent higher than the $411 million recorded for the same three months a year ago, and 33 percent higher than the $612 million recorded for the last quarter of 1991.
 January's fundings of $250 million were followed by $251 million in February and $313 million in March. March was the fourth consecutive month in which loan America established new production records.
 John S. Kuczwanski, president of Loan America, stated, "This will be our best quarter ever for net earnings...somewhere in the neighborhood of $1.3 million. The bottom line is up sharply due to the record loan volumes which have grown from strong gains in mortgages funded for both home purchasing and refinancing."
 As of March 31, 1992, Loan America's pipeline (loans in process) totaled $791 million, a gain of 45 percent over its $547 million pipeline on Dec. 31, 1991.
 Loan America's mortgage servicing portfolio currently exceeds $3.4 billion.
 -0- 4/2/92
 /CONTACT: John S. Kuczwanski, president of Loan America Financial Corporation, 305-557-9282, or John K. Schulte of Schulte Ross and Aguilar, 305-856-1442, for Loan America Financial Corp./
 (LAFCB) CO: Loan America Financial Corporation ST: Florida IN: FIN SU:


JB-XX -- FL005 -- 4315 04/02/92 11:06 EST
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Publication:PR Newswire
Date:Apr 2, 1992
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