SAN DIEGO, Calif. -- American Residential Mortgage Corp. reported single-family loan originations of $619 million for May, a 22% decrease from the $796 million booked in May 1993 and 17% since April of this year.

New loan applications totaled $805 million in May. The pipeline of loans in process was $1.7 billion at month's end. May's refinancings decreased to 34% of loan production for the month, compared with 72% a year earlier.

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