SCOTTSDALE, Ariz. - Express America Holdings Corp., the parent company of Express America Mortgage Corp., reported a loss of $7.2 million before extraordinary items, or $1.35 per share, for the fiscal year ended Sept. 30, 1994. The net loss was $8.5 million, or $1.58 per share.

This result compares to a net loss of $2.1 million, or 47 cents a share, for the period a year earlier.

The company had a loss before extraordinary items of $5.2 million, or 97 cents a share, and a net loss of $6.5 million, or $1.20 per share, for the quarter ended Sept. 30, 1994. In the quarter a year ago, it had a net loss of $6.6 million, or $1.24 per share.

The company recorded an extraordinary loss of $1.3 million on the early extinguishment of debt for the quarter and the year ended Sept. 30, 1994. The loss also includes the results from the sale of the company's mortgage-loan servicing business to NationsBanc Mortgage Corp., which was completed on Sept. 30, and the consolidation of the company's wholesale loan-origination business from eight nationwide hub offices into one hub office in Scottsdale.

The net gain on the sale of the Company's servicing business was $19 million. Proceeds from the sale of the mortgage-loan servicing business were used to repay term debt and a portion of the outstanding debt under the company's revolving warehouse-credit facility.

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