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NORTH AMERICAN MORTGAGE COMPANY REPORTS FEBRUARY LOAN APPLICATIONS OF $1.4 BILLION AND ORIGINATIONS OF $660 MILLION

 SANTA ROSA, Calif., March 5 /PRNewswire/ -- North American Mortgage Company (NYSE: NAC), the nation's sixth largest originator of home loans, today reported February 1993 loan applications of $1.4 billion, comparable to those of February 1992. Loan originations in February were $660 million, compared to $749 million in February 1992. Year-to- date 1993 loan originations were $1.4 billion, with refinancings representing 65 percent of total loan fundings vs. 73 percent during the same period last year.
 John F. Farrell Jr., chairman of the board and chief executive officer of North American Mortgage Company, said: "While the overall increase in application volume of 35 percent over January was impressive, we are particularly pleased with the application rate since the middle of February, which is up significantly." Mr. Farrell further noted that "refinancings are now in high gear" and that "the strong trend in new business has continued into March."
 At Feb. 28, 1993, the company's owned servicing portfolio was $11.9 billion, a 59 percent increase compared with $7.5 billion at Feb. 29, 1992. The servicing portfolio had a weighted average coupon of 8.07 percent at Feb. 28, 1993, compared with 9.08 percent at the end of February 1992.
 North American Mortgage Company is primarily engaged in the mortgage banking business and, accordingly, originates, acquires, sells, and services mortgage loans which are principally first-lien mortgage loans secured by single-family residences. It is a major originator in the California, Texas and mid-Atlantic markets. Headquartered in Santa Rosa, the company operates 50 origination offices located in 14 states.
 NORTH AMERICAN MORTGAGE COMPANY
 Operating Statistics
 Feb Feb YTD YTD
 1993 1992 1993 1992
 Loan originations
 (millions) $ 660 $749 $ 1,389 $1,438
 Average loan size
 originated $134,096 $129,152 $136,257 $129,378
 Percentage refinance
 originations 64 73 65 73
 Loan applications
 (millions) $1,414 $1,455 $ 2,458 $3,203
 Owned servicing
 portfolio (millions) $11,925 $7,505 -- --
 Servicing portfolio
 number of loans 121,199 90,801 -- --
 Average loan size
 serviced $98,394 $82,652 -- --
 Servicing delinquency
 percent (30 days & over) 2.36 2.88 -- --
 Foreclosure percent 0.55 0.58 -- --
 The above data reflects current operating statistics and does not constitute all factors impacting the quarterly and annual financial results of the company. All figures are unaudited and monthly figures may be adjusted in the reported financial statements which will be provided on a quarterly basis.
 -0- 3/5/93
 /CONTACT: Martin S. Hughes, executive vice president of North American Mortgage Company, 707-523-5049; or Andrew R. Baer or Thomas J. Davies of Kekst and Company, 212-593-2655, for North American Mortgage Company/
 (NAC)


CO: North American Mortgage Company ST: California IN: FIN SU:

GK -- NY050 -- 3590 03/05/93 16:49 EST
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Date:Mar 5, 1993
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