TEXAS RESIDENTIAL MORTGAGE CORP. CHANGES NAME TO AMERICAN RESIDENTIAL MORTGAGE CORP.
SAN DIEGO, Sept. 8 /PRNewswire/ -- Texas Residential Mortgage Corp., which is part of California-based American Residential Mortgage Corp. will now operate under the parent name. American Residential Mortgage is the country's fifth largest independent mortgage banker. Its offices are located in Arlington, Clearlake, Dallas, Houston, Plano and San Antonio. The company employs 89 people in Texas. "The change is effective immediately," said John M. Robbins Jr., president and chief executive officer of American Residential, in making the announcement. "Our Texas offices will now be more closely identified with the size and strength of American Residential." The six offices that comprise Texas Residential accounted for 4.4 percent of the company's originations as of June 30, 1993. American Residential reported $3.5 billion in originations at mid-year 1993 and a servicing portfolio of $10.3 billion. "The Texas real estate market is one of the most dynamic in the country," Robbins continued. "With its appreciating home values and strong first-time financing demand, we believe buyers will value dealing with a national company that has a broad range of loan products, a sophisticated lending network, and a reputation for quality." Headquartered in San Diego, American Residential Mortgage Corp. has 71 branches throughout the United States. American Residential Mortgage is a subsidiary of American Residential Holding Corp. (NASDAQ: AMRS). -0- 9/8/93 /CONTACT: Kasey Emmel, Media Relations, 619-535-4310/ (AMRS)
CO: American Residential Mortgage Corp.;
Texas Residential Mortgage Corp. ST: California IN: FIN SU:
LM-EH -- SD006 -- 9823 09/08/93 12:33 EDT