SANTA ROSA, Calif. - North American Mortgage Co. reported that its June 1995 loan applications were $1.31 billion, a 27% increase from a year earlier. Loan fundings were $721 million, a 9% increase.

John F. Farrell Jr., chairman and chief executive, said, "June was a breakthrough month. Fundings increased to a 13-month high, and we enjoyed continued growth in new applications. I am further encouraged that only 25% of our fundings were refinance loans, and that many of these came from our retail branches.

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