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NORTH AMERICAN MORTGAGE COMPANY OFFERING PRICE AT $11.50 PER SHARE

 NORTH AMERICAN MORTGAGE COMPANY OFFERING PRICE AT $11.50 PER SHARE
 SANTA ROSA, Calif., July 8 /PRNewswire/ -- North American Mortgage Company (NYSE: NAC) today announced that its initial public offering of 5,500,000 shares of common stock was priced for sale at $11.50 per share. All of the shares are being offered by the Company. The Company's Registration Statement with the Securities and Exchange Commission became effective today.
 The offering is being made in conjunction with the Reorganization of IMCO Realty Services--a California Limited Partnership, which is expected to be completed next week.
 The company's shares will be listed on the NYSE under the symbol NAC and are expected to begin trading tomorrow.
 Merrill Lynch, Pierce, Fenner & Smith Incorporated, PaineWebber Incorporated, Dean Witter Reynolds Inc., and Mabon Securities Corp. are the lead Underwriters. The company has granted the underwriters a 30- day option to purchase up to 825,000 additional shares of common stock to cover over-allotments.
 These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Copies of the prospectus may be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, World Financial Center, New York, N.Y. 10080; PaineWebber Incorporated, 1285 Avenue of the Americas, New York, N.Y. 10019; Dean Witter Reynolds Inc., Two World Trade Center, New York, N.Y. 10048; or Mabon Securities Corp., One Liberty Plaza, New York, N.Y. 10006.
 North American Mortgage Company is primarily engaged in the mortgage banking business and originates, acquires, sells and services mortgage loans.
 -0- 7/8/92
 /CONTACT: Tracey T. Stearns of Kekst and Company, 212-593-2655, for North American Mortgage/
 (NAC) CO: North American Mortgage Company ST: California IN: FIN SU: OFR


KD -- NY076 -- 7634 07/08/92 18:07 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
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