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PLAZA HOME MORTGAGE REPORTS SOLID JULY LOAN APPLICATIONS AND ORIGINATIONS

 Month-End Pipeline Tops $1 Billion for Fifth Consecutive Month
 SANTA ANA, Calif., Aug. 5 /PRNewswire/ -- Plaza Home Mortgage Corp. (NASDAQ: PHMC) today announced that July 1993 loan originations rose 80 percent to $638 million compared with $355 million a year ago. June 1993 originations were reported at $798 million.
 July new loan applications were strong at $1.2 billion compared with the $1.1 billion reported for June 1993 and up from the $733 million reported for July 1992. The July month-end pipeline of loans in progress grew to $1.1 billion, compared with $1.0 billion for June 1993. The July 1992 pipeline was reported at $464 million. Daily new loan applications in July rose to $57 million compared with $33 million a year ago.
 Jack French, chairman and chief executive officer, said, "Plaza's continued focus on expanding its market share in growth markets outside of California is contributing to strong loan production.
 "We opened two offices last month, a wholesale office in Chicago, Ill., and a retail office in McLean, Va., which will serve the Washington, D.C. area. They bring the total number of loan offices outside California to 10, seven of which we have opened in 1993.
 "Building our servicing portfolio remains a top priority," French said, adding that consolidation of Plaza's servicing portfolio with the recently acquired Sandia Mortgage Corp. portfolio at the Albuquerque, N.M., servicing facility is underway and progressing smoothly.
 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 31 loan origination offices in 10 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)
 July 31,
 1993 1992
 Pipeline (loans-in-process) $1,082 $464
 Loan applications 1,195 733
 Average daily loan applications 57 33
 Loan originations
 Month-to-date:
 Wholesale 473 249
 Retail 94 48
 Correspondent 60 58
 Option One 11 ---
 Total $638 $355
 Year-to-date:
 Wholesale 3,141 2,256
 Retail 537 404
 Correspondent 323 505
 Option One 37 ---
 Total $4,038 $3,165
 Adjusted Delinquency Ratio:
 GNMA(a) 4.52 pct 0 pct
 FNMA 1.28 pct 1.41 pct
 FHLMC 1.36 pct 1.34 pct
 Private investors(b) 2.00 pct 1.08 pct
 Total(b) 1.73 pct 1.33 pct
 Servicing portfolio, net of
 interim servicing $7.0 billion $2.5 billion
 Working days in the month 21 22
 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.
 (a) The company did not perform GNMA servicing prior to the Sandia acquisition and does not consider the indicated delinquency ratio unfavorable compared to other GNMA servicing portfolios.
 (b) Does not include delinquencies associated with a minor portion (approximately $52 million in principal amount out of more than $3.3 billion in aggregate servicing rights) of the recently acquired Sandia servicing portfolio. Including such portfolio, the estimated delinquency ratios for private investors and in the aggregate were 7.53 percent and 2.67 percent, respectively, as of July 31, 1993. It is anticipated that the delinquencies associated with the subject portfolio will be significantly reduced upon final adjustment and settlement of the terms of the acquisition.
 -0- 8/5/93
 /CONTACT: Brad Morrice, executive VP, general counsel of Plaza Home Mortgage, 714-564-8036; Nick Farina (Chicago), 312-266-7800, Regina Ryan (N.Y.), 212-661-8030, or John H. Shaw (L.A.), 818-783-2400, all of Financial Relations Board for Plaza Home Mortgage/
 (PHMC)


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

MF-LS -- LA042 -- 0148 08/05/93 22:39 EDT
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Date:Aug 5, 1993
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