INDIANAPOLIS, Feb. 26 /PRNewswire/ -- Donald K. Erling has been named
Managing Director at Banc One Mortgage Corporation, according to Jeffrey P.
Gaia, President and Chief Executive Officer.
    Erling will be responsible for Banc One Mortgage's Wholesale Lending
Division and its soon-to-be-announced Internet platform, Home by Net.
    Home By Net, a multi-lender, direct consumer Internet site, has been under
development at Banc One Mortgage for over six months under the direction of
Albert V. Will, Chief Operating Officer. Banc One Mortgage has developed Home
By Net as a cooperative venture between several key mortgage lenders and real
estate service providers. Partners will be announced soon and the Home By Net
will be available to the public by mid-March.
    "Erling has extensive wholesale lending management experience and a
particular strength for multi-lender platforms. He is also a proven entity in
starting and growing new business," said Will.
    As executive vice president/financial markets at Prudential Home Mortgage,
Erling was responsible for all sales, client relations and marketing in the
wholesale lending, conduit, correspondent and Mortgage Finance programs.
Erling built, created and managed the wholesale lending unit and hired,
trained and motivated staff in approximately 40 locations throughout the
United States. He significantly improved the credit quality of wholesale
business and developed an internal telemarketing staff for Prudential Home
Mortgage.
    "Don Erling is a great addition to our executive management team," said
Gaia. "He will take our wholesale lending area to the next level. We are
thrilled to have someone of his caliber join us as we continue to focus on our
distribution strategy of optimizing our current network and creating new
non-traditional channels."
    Erling, who will report to Gaia, most recently was president and chief
executive officer of The Home Mortgage Network, a joint venture between
Coldwell Banker Corporation and PNC Mortgage Corporation of America.  Based on
this experience and his tenure in a number of senior level positions at
Prudential Home Mortgage, Erling has the experience to lead Banc One
Mortgage's aggressive distribution strategy.
    Under Erling's leadership, The Home Mortgage Network funded approximately
$1.1 billion in mortgages in its first year of operation.
    Erling worked at Prudential Home Mortgage for eight years (1987-1995),
serving in a number of senior management positions, including executive vice
president/financial markets, executive vice president/broker services, senior
vice president/national wholesale sales and regional vice president. Erling
was also national sales director for First Boston Capital Group, Inc., from
1983-1986, where he had responsibility for all sales and client relations
throughout the United States.
    Banc One Mortgage Corporation, which is headquartered in Indianapolis,
Indiana, is a subsidiary of Banc One Corporation (NYSE: ONE), which had assets
of $101.8 billion and common equity of $8.4 billion as of December 31, 1996.
Banc One Mortgage Corporation operates more than 200 offices in Arizona,
Colorado, Illinois, Indiana, Kentucky, Louisiana, Maryland, Nevada, Ohio,
Oklahoma, Oregon, Texas, Utah, Virginia, Washington, West Virginia, and
Wisconsin.  In 1996, Banc One Mortgage Corporation reported origination volume
of more than $3.2 billion and $24 billion in servicing volume.
    Information about Banc One's year-end 1996 financial results and its
products and services can be accessed on the Internet through Banc One's home
page at: http://www.bankone.com, or through InvestQuest(TM) at
http://www.investquest.com and InvestQuest(TM) Fax-on-demand:  614-844-3860.

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