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Article: Federal Home Loan Bank of New York announces that mortgage loans acquired by NY member institutions rose 54% in 1986.
- Article from:
- PR Newswire
- Article date:
- April 8, 1987
CopyrightCOPYRIGHT 1987 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, April 8 /PRNewswire/ -- Mortgage loans acquired by New York member institutions during 1986 rose 54 percent above the previous record, established in 1985, the Federal Home Loan Bank of New York announced here today.
Fourth quarter mortgage lending by the 98 New York thrifts required to report was nearly 75 percent above the lending volume of the same period in 1985.
Mortgage loans acquired by the institutions hit a new fourth quarter mark of $5.3 billion, capping a record volume of $15 billion for 1986. "Mortgage loans acquired" are total mortgage loans closed during the period analyzed, plus mortgage loans and participations purchased.