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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8 - K
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): DECEMBER 9, 1997
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THE WMF GROUP, LTD.
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(Exact Name of Registrant as
Specified in Charter)
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<S> <C> <C>
Delaware 000-22567 54-1647759
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
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1593 Spring Hill Road
Suite 400
Vienna, Virginia 22182
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(Address of Principal
Executive Offices)
(703) 610 - 1400
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(Registrant's telephone
number, including area code)
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ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Effective December 8, 1997, the board of directors approved the
engagement of KPMG Peak Marwick LLP as its independent auditors to audit the
financial statements of The WMF Group, Ltd. ("the Company") for the year ended
1997.
Arthur Andersen LLP has been the Company's auditors since July 1996
after the Company was acquired by NHP Incorporated (NHP). While the Company
has been satisfied with the services rendered by Arthur Andersen LLP the
Company has decided to terminate their relationship with Arthur Andersen LLP
and re-engage KPMG Peat Marwick LLP, the Company's auditor prior to the
acquisition by NHP. Arthur Andersen LLP's report on the Company's financial
statements for the year ended December 31, 1996, contained no adverse opinion
or disclaimer of opinion, nor was it qualified or modified as to uncertainty,
audit scope, or accounting principles. During the same period, and from
January 1, 1997 through December 8, 1997, there were no disagreements with
Arthur Andersen LLP on any matter of accounting principles or practices,
financial statement disclosure, auditing scope or procedure, which
disagreement, if not resolved to the satisfaction of Arthur Andersen LLP, would
have caused Arthur Andersen LLP to make reference to the subject matter of the
disagreement in connection with its report.
During the Company's fiscal year ended December 31, 1996, the Company
had not consulted with KPMG Peat Marwick LLP on items which (1) concerned the
application of accounting principles to a specific transaction, either
completed or proposed, or the type of audit opinion that might be rendered on
the Company's financial statements or (2) concerned the subject matter of a
disagreement or reportable event with Arthur Andersen LLP.
Arthur Andersen LLP has furnished the Company with a letter addressed
to the Securities and Exchange Commission stating that Arthur Andersen LLP
agrees with the statements, pertaining to them, contained above. Arthur
Andersen LLP's letter is attached to this Form 8-K as Exhibit 16.1
ITEM 7. EXHIBITS
16.1 Letter from Arthur Andersen LLP
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the registrant
has duly caused to be signed on its behalf by the undersigned, thereunto duly
authorized.
THE WMF GROUP, LTD.
Date: December 9, 1997 By: /s/ Michael D. Ketcham
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Michael D. Ketcham
Executive Vice President, Chief Financial
Officer and Treasurer (Principal Financial
Officer)
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[ARTHUR ANDERSEN LETTERHEAD]
December 9, 1997
Mr. Michael Sutton
Chief Accountant, Securities and Exchange Commission
Office of Chief Accountant
450 5th Street NW
Washington, D.C. 20549
Dear Mr. Sutton:
We have read Item 4 included in the attached Form 8-K dated December 9, 1997 of
The WMF Group, Ltd. filed with the Securities and Exchange Commission and are
in agreement with the statements contained therein.
Very truly yours,
ARTHUR ANDERSEN LLP
cc: Mr. Michael Ketcham
The WMF Group, Ltd.
Executive Vice President, Chief Financial Officer and Treasurer
