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SBA No. 2 Among Lenders Following January Quake

July 31, 1994|Special to The Times

The U.S. Small Business Administration (SBA), the government agency responsible for making financial help available to owners whose properties were damaged in the Northridge earthquake, has emerged as the No. 2 mortgage lender in the Los Angeles metropolitan area.

Figures released by TRW REDI Property Data, a real estate information company, show that between January and May the SBA advanced more than 8,300 loans worth $363 million to property owners. The average size of SBA mortgages is just under $44,000.

L.A. and Ventura County Home Loans, Jan.-May, 1994

Rank and Lender No. of Total Amount Market Loans in Dollars Share 1--Bank of America 10,383 $997,437,068 7% 2--U.S. Small Business Admin. 8,311 $363,153,252 5% 3--Home Savings Of America 4,401 $770,009,438 3% 4--North American Mortgage 4,369 $687,280,910 3% 5--Wells Fargo Bank 3,923 $466,732,362 3% 6--Countrywide Funding 3,701 $594,112,418 2% 7--Great Western Bank 3,392 $401,663,568 2% 8--American Savings Bank 2,868 $427,232,487 2% 9--World S&L 2,085 $329,610,221 1% 10--America's Whlesle Lnder 1,544 $274,209,865 1% Others 109,180 $15,657,936,751 71% Total Market Area 154,157 $20,969,378,340 100%

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