North American Mortgage Co., Santa Rosa, Calif., reported an increase of just 3% in loan originations in December. For the year, however, its volume showed a gain of 26%.

The annual gain, reported last week, basically mirrored what has been happening elsewhere in the mortgage industry. Countrywide Credit Industries, Pasadena, Calif., showed a gain of 23.2% for the calendar year, and projections by the Mortgage Bankers Association were for an industrywide gain of about 23%.

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