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PLAZA HOME MORTGAGE POSTS RECORD JUNE LOAN ORIGINATIONS

 SANTA ANA, Calif., July 6 /PRNewswire/ -- Plaza Home Mortgage Corp. (NASDAQ: PHMC) today announced that production growth at its loan offices outside of California led to record June loan originations, and continued strong new loan applications which topped $1 billion for the fourth consecutive month. All figures are unaudited.
 June 1993 loan originations rose to a record $798 million, compared with $750 million a month earlier. June 1992 loan originations were reported at $404 million.
 June new loan applications advanced to $1.1 billion, compared with the $1.0 billion reported for May, while the month-end pipeline of loans in progress decreased to $1.0 billion from $1.1 billion a month earlier. June 1992 applications and month-end pipeline were reported at $541 million and $473 million, respectively.
 Jack French, chairman and chief executive officer, said, "Our record June results are directly attributable to our loan offices outside of California doing an excellent job gaining market share, which has been pushing our overall production to new levels."
 For the month of June, Plaza loan offices outside of California contributed 32 percent of loan originations, up from 28 percent last month and 17 percent in January.
 "Many of our offices outside California are still early in the ramp-up phase and will continue to be a source of production gains as they capture greater share of their markets," French said. "Capitalizing on the success achieved so far this year, we will continue our strategy to build a nationwide presence by opening additional loan offices elsewhere in the United States to complement the six opened earlier this year.
 "It is important to note that concurrent with setting new company production records last month, we also completed the acquisition of Sandia Mortgage Corp. As a result of that acquisition and our retention of servicing rights, the Plaza loan servicing portfolio stands at $7.0 billion, more than 2 1/2 times the year-ago portfolio. I am confident that our greatly increased ability to generate servicing income will serve as a catalyst for future company growth."
 Plaza Home Mortgage is a mortgage banking company specializing in the origination, sale and servicing of one to four-family residential mortgage loans. Plaza conducts mortgage banking activities through its 27 loan origination offices in eight states and is ranked the ninth-largest mortgage loan originator in California, the 22nd-largest nationwide.
 For information on Plaza by fax, dial 800-PRO-INFO, ext. 132.
 PLAZA HOME MORTGAGE CORP.
 Operating Statistics
 (in millions of dollars)
 (unaudited)
 June 30,
 1993(a) 1992
 Pipeline (loans-in-process) $1,002 $473
 Loan applications 1,107 541
 Avg daily loan applications 50 25
 Loan originations
 Month-to-date:
 Wholesale 623 283
 Retail 106 52
 Correspondent 58 69
 Option One 11 ---
 Total $798 $404
 Wholesale 2,668 2,007
 Retail 443 356
 Correspondent 263 447
 Option One 26 ---
 Total $3,400 $2,810
 Delinquency ratio 1.40 pct 1.44 pct
 Servicing portfolio, net of
 interim servicing $7,000 $2,400
 Working days in the month 22 22
 (a) All figures are unaudited and monthly figures may be adjusted in the reported financial statements of the company. Such financial statements are provided by the company quarterly. The company makes no commitment to update this information for changes in circumstances or events which occur subsequent to the date of this release.
 -0- 7/6/93 R
 /CONTACT: James M. Weld, president & COO of Plaza Home Mortgage, 714-564-3010; or Nick Farina (Chicago), 312-266-7800, Regina Ryan (NY), 212-661-8030, or John H. Shaw (LA), 818-783-2400, all of The Financial Relations Board for Plaza Home Mortgage/
 (PHMC)


CO: Plaza Home Mortgage Corp. ST: California IN: FIN SU:

JL-LM -- LA012 -- 8911 07/07/93 08:16 EDT
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Date:Jul 7, 1993
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