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LOAN AMERICA STOCKHOLDERS TOLD OF RECORD RESIDENTIAL FUNDINGS AND EARNINGS; MORTGAGE SERVICING PORTFOLIO EXCEEDS $3.4 BILLION

 LOAN AMERICA STOCKHOLDERS TOLD OF RECORD RESIDENTIAL FUNDINGS
 AND EARNINGS; MORTGAGE SERVICING PORTFOLIO EXCEEDS $3.4 BILLION
 MIAMI LAKES, Fla., May 28 /PRNewswire/ -- Stockholders of Loan America Financial Corporation (NASDAQ-NMS: LAFCB) were told about new records set for residential loan volumes, net earnings and mortgage servicing portfolio size today (5-28-92) at the company's annual meeting.
 Loan America, a publicly owned residential mortgage banking firm, operates a wholesale loan production network serving many of the nation's major housing markets.
 President John S. Kuczwanski told stockholders that:
 -- Net earnings for the first quarter of 1992 reached $1.36 million, a record amount which exceeded the company's entire 1991 earnings;
 -- Loan production for the three months ended March 31 reached a record $814 million, 98 percent greater than the $411 million recorded for the same quarter a year ago;
 -- As of March 31, Loan America's mortgage servicing portfolio exceeded $3.4 billion, a gain of 18 percent above its year ago total.
 Re-elected to the board of directors at the annual meeting were Morton Trilling, James M. Stuzin and Bruce D. Friesner.
 Loan America is a publicly owned residential mortgage banking firm traded on the NASDAQ national market system under the symbol LAFCB.
 -0- 5/28/92
 /CONTACT: John S. Kuczwanski, president of Loan America Financial Corporation, 305-557-9282; or John K. Schulte of Schulte, Ross & Aguilar, 305-856-1442, for Loan America Financial Corp./
 (LAFCB) CO: Loan America Financial Corporation ST: Florida IN: FIN SU:


JJ-AW -- FL009 -- 4789 05/28/92 13:32 EDT
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Publication:PR Newswire
Date:May 28, 1992
Words:249
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