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STANDARD FEDERAL SETS RECORD FOR APRIL MORTGAGE CLOSINGS

 STANDARD FEDERAL SETS RECORD FOR APRIL MORTGAGE CLOSINGS
 TROY, Mich., May 8 /PRNewswire/ -- Standard Federal Bank (NYSE: SFB)


announced that it has set a new record in mortgage lending volume for the month of April. During April 1992, the bank closed 4,911 single- family home mortgage loans for a total of $370,946,335. Year to date, the bank has closed 16,890 home loans for a total of $1,278,206,560.
 In 1992, the bank doubled its lending volume compared with 1991, when 2,342 loans were closed for a total of $187,928,442 in April and 6,199 loans were closed for a total of $507,156,953 for the first four months of that year.
 "1992 continues to be a record-breaking year for the bank," noted Thomas R. Ricketts, chairman and president of Standard Federal Bank, "and with interest rates holding at low levels, it continues to be an excellent time for consumers to refinance their current mortgage or to buy a new home."
 Standard Federal Bank, headquartered in Troy, is Michigan's leading home lender and largest thrift with assets totaling $9.6 billion. The bank operates 120 branch offices throughout Michigan, Indiana and Ohio.
 -0- 5/8/92
 /CONTACT: William R. Yaw Jr. of Standard Federal Bank, 313-643-9600, or in Michigan, 800-482-3930, or in Indiana, 800-874-3716/
 (SFB) CO: Standard Federal Bank ST: Michigan IN: FIN SU:


JG -- DE026 -- 8174 05/08/92 15:09 EDT
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Publication:PR Newswire
Date:May 8, 1992
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