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LOAN AMERICA OPENS REGIONAL RESIDENTIAL MORTGAGE OFFICE IN NEW YORK AND FIRST OF A SERIES OF SATELLITE OFFICES IN FLORIDA

 MIAMI LAKES, Fla., July 19 /PRNewswire/ -- Loan America Financial Corporation (NASDAQ-NMS: LAFCB), a residential mortgage banking firm serving home buyers in major housing markets from coast to coast, has opened a new regional lending office and the first of a series of satellite offices.
 The establishment of a full service regional office in White Plains, N.Y., is the company's first loan production facility in the Northeast mortgage market.
 Loan America also opened a satellite office in Fort Lauderdale, Fla. to enhance its Florida market penetration. According to President John S. Kuczwanski, the company will open additional low cost satellite offices during the coming year to penetrate local markets and expand its geographic base.
 Loan America, which funded $3 billion in residential mortgages during 1992, operates a wholesale mortgage banking system through which it offers a wide selection of residential first mortgage programs to independent mortgage brokers and other mortgage originators across the nation.
 Kuczwanski stated, "These new offices are integral to our plans for growth in market share among the nation's independent mortgage brokers. We recently raised $12 million from an offering of additional common stock, money which will be used to support increases in both loan production and mortgage servicing portfolio."
 Loan America is a publicly owned company traded on the NASDAQ National Market System under the symbol LAFCB.
 -0- 7/19/93
 /CONTACT: John S. Kuczwanski, president of Loan America Financial Corporation, 305-557-9282; or John K. Schulte of Schulte Ross & Aguilar, Inc., 305-856-1442, for Loan America Financial Corporation/
 (LAFCB)


CO: Loan America Financial Corporation ST: Florida IN: FIN SU:

AW-JB -- FL005 -- 3168 07/19/93 14:58 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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