<PAGE>
<TABLE>
<CAPTION>
- -------- ------------------------------
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
- -------- Washington, D.C. 20549 ------------------------------
OMB Number: 3235-0287
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Expires: September 30, 1998
Estimated average burden
hours per response........ 0.5
------------------------------
[_] Check this box if no longer Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of
subject to Section 16. Form 4 the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company
or Form 5 obligations may Act of 1940
continue. See Instruction 1(b).
(Print or Type Responses)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. Name and Address of Reporting 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
Person* to Issuer
(Check all applicable)
Michael D. Ketcham The WMF Group, Ltd. (WMFG) Director 10% Owner
------------------------------------------------------------------------------------------ ---- ----
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for Month/Year X Officer (give Other (specify
Number of Reporting ---- title below) ---- below)
Executive Vice President, Treasurer
-----------------------------------
and Chief Financial Officer
1593 Spring Hill Road, #400 Person (Voluntary) March, 1999 ---------------------------
- ----------------------------------- ---------------------------------------------------------------------
(Street) 5. If Amendment, Date of 7. Individual or Joint/Group
Original (Month/Year) Filing (Check Applicable Line)
X Form filed by One Reporting Person
---
Form filed by More than One
Vienna, VA 22182 --- Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action action or Disposed of (D) Securities Form: Indirect
Date Code (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
(Instr. 8) Owned at or Indirect Owner-
(Month/ End of Month (I) ship
Day/
Year) (Instr. 3 and 4) (Instr. 4) (Instr. 4)
---------------------------------------
Code V Amount (A) or (D) Price
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock, $0.01 par 3/8/99 M(1) V 5,360 A $5.00 10,360 D(2)
value
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v). SEC 1474 (7-96)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1. Title of 2. Conversion 3. Transaction 4. Transaction 5. Number of 6. Date 7. Title and 8. Price
Derivative or Date Code Derivative Exercisable Amount of of
Security Exercise Securities and Expiration Underlying Derivative
(Instr. 3) Price of (Month/ (Instr. 8) Acquired (A) Date (Month/ Securities Security
Derivative Day/ or Disposed Day/Year)
Security Year) of (D) (Instr. 3 (Instr. 5)
(Instr. 3, 4, and 4)
and 5) -------------------------------
Amount
or
Date Expir- Number
Exer- ation of
--------------------------------- cisable Date Title Shares
Code V (A) (D)
- ----------------------------------------------------------------------------------------------------------------------------------
Rights to $5.00 3/8/99 X V 5,360 2/5/99 3/8/99 Common 5,360 (1)
Purchase Stock,
Common par
Stock value
$.01
per
share
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
1. Title of 9. Number of 10. Ownership 11. Nature of
Derivative Derivative Form of Indirect
Security Securities Deriva- Beneficial
(Instr. 3) Beneficially tive Ownership
Owned at Security; (Instr. 4)
End of Direct
Month (D) or
Indirect
(Instr. 4) (I)
(Instr. 4)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Rights to 0 D(2)
Purchase
Common
Stock
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: /s/ Michael D. Ketcham April 9, 1999
Note: File three copies of this Form, one of which must be manually signed. ------------------------------- --------------
If space is insufficient, see Instruction 6 for procedure. **Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Michael D. Ketcham
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form Page 2 of 2
displays a currently valid OMB Number. SEC 1474 (7-96)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Name and Address of Reporting Person Issuer Name and Ticker or Trading Symbol Statement for Month/Year
<S> <C> <C>
Michael D. Ketcham The WMF Group, Ltd. (WMFG) March, 1999
1593 Spring Hill Road, #400
Vienna, VA 22182
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
1. Shares acquired upon the exercise of 5,360 rights received by Mr. Ketcham
during the Company's rights offering to its shareholders. During the rights
offering, each of the Company's shareholders received 1.072 transferable rights
for each share of common stock owned on February 1, 1999. Each right entitled
its holder to purchase one share of the Company's common stock for $5.00.
2. Held jointly by Mr. Ketcham and his spouse.
