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PLAZA HOME MORTGAGE TO OPEN THREE NEW LOAN ORIGINATION OFFICES; OFFICES IN FLORIDA AND NEVADA TO ENHANCE GEOGRAPHIC DIVERSIFICATION

 SANTA ANA, Calif., Feb. 11 /PRNewswire/ -- Plaza Home Mortgage Corp. (NASDAQ: PHMC) today announced it will open three additional loan origination offices by the end of the first quarter 1993, in a continued drive to increase national market share.
 The three additional new offices bring the total of new offices to six that Plaza will open in the first quarter; five are located outside California and four of those are in new states. The newest offices will be opened in Boca Raton, Fla.; Torrance, Calif.; and Las Vegas.
 Plaza earlier reported it was opening offices this quarter in Andover, Mass., serving New England; Bellevue, Wash., serving the Seattle/Tacoma area; and in Houston.
 Jack French, chairman and chief executive officer, said, "Encouraged by the strong results achieved at other offices we have opened in the past year, we are continuing our aggressive plan of increasing loan originations by entering into new markets where we see opportunity. As with our other offices, the locations for the newest offices were carefully selected according to a profile we use to identify promising markets for Plaza's service-oriented and highly productive associates.
 "Boca Raton will be a wholesale office serving Palm Beach County and northeast Florida including Palm Beach, Orlando and Jacksonville. The new Torrance office will be retail and will serve the South Bay area of Los Angeles complementing our existing strong wholesale presence there. Las Vegas, also a retail office, will bring in business from all of Nevada.
 "We have been pleased by the early results of our expansion program outside of California. Portland, Ore., and Phoenix, Ariz., are two good examples," French explained. "Portland opened in April 1992 and by year end was ranked among the Top 10 mortgage originators statewide. Phoenix began funding loans in August 1992 and was recently ranked the No. 11 mortgage lender in Maricopa County, which encompasses the greater Phoenix metropolitan area."
 Additionally, Plaza recently announced that it has filled the new position of manager, Correspondent Division. This division's goal is to develop business with small mortgage banking companies, banks and S&Ls, primarily outside of California to bolster market penetration nationally.
 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 20 loan origination offices in five states and is ranked the eighth largest mortgage loan originator in California, and the 20th largest nationwide. Plaza's savings and loan subsidiary has its single branch in Santa Ana.
 For more information on Plaza by fax, dial 800-PRO-INFO, ext. 132.
 -0- 2/11/93
 /CONTACT: James M. Weld, president/COO of Plaza Home Mortgage, 714-564-3010; Nick Farina, 312-266-7800, Regina Ryan, 212-661-8030, or John H. Shaw, 818-783-2400, all of Financial Relations Board for Plaza Home Motrgage/
 (PHMC)


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

KJ-JB -- LA008 -- 5537 02/11/93 09:02 EST
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Date:Feb 11, 1993
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