North American Mortgage Co. reports that it received $1.1 billion in loan applications and funded $666 million in mortgage loans in September.

Refinancings represented 31% of total fundings and 34% of total applications. Applications and fundings each decreased 8% from September 1995.

As of Sept. 30, loan applications for the year totaled $12.2 billion, an increase of 35%. Loan fundings totaled $7.1 billion, up 40%. Its servicing portfolio was $13.6 billion, a 6% decrease.

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