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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION
FORM 4 Washington, D.C. 20549
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange
Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of
the Investment Company Act of 1940
OMB APPROVAL
[_] Check this box if no longer ---------------------------
subject to Section 16. Form 4 OMB Number: 3235-0287
or Form 5 obligations may Expires: September 30, 1998
continue. See Instruction 1(b). Estimated average burden
(Print or Type Responses) hours per response......0.5
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<S> <C> <C> <C>
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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)
Mitchell D. Clarfield The WMF Group, Ltd. (WMFG) ___ Director ___ 10% Owner
_X_ Officer (give ___ Other (specify
title below) below)
Executive Vice President
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for Month/Year
Number of Reporting
11755 Wilshire Boulevard, Person (Voluntary) April, 1999
19th Floor
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(Street) 5. If Amendment, Date of 7. Individual or Joint/Group Filing
Original (Month/Year) (Check Applicable Line)
_X_ Form filed by One
Reporting Person
___ Form filed by More than One
Los Angeles, CA 90025 Reporting Person
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(City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
1. Title of Security 2. Trans- 3. Trans- 4. Securities 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action action Acquired (A) Securities Form: Indirect
Date Code or Disposed Beneficially Direct (D) Beneficial
(Instr. 8) of (D) Owned at or Indirect Owner-
(Month/ (Instr. 3, End of Month (I) ship
Day/ 4 and 5)
Year) (Instr. 3 and 4) (Instr. 4) (Instr. 4)
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Code V Amount (A) or (D) Price
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Common Stock, $0.01 par value 3/8/99 M(1) V 105,536 A $5.00 D
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Common Stock, $0.01 par value 4/6/99 A V 21,109 A (2) D
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Common Stock, $0.01 par value 4/12/99 S 4,500 A $8.00 234,345(3) I (4)
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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)
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FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of 2.Conversion 3.Transaction 4.Transaction 5. Number of 6. Date 7. Title and
Derivative or Date Code Derivative Exercisable Amount of
Security Exercise Securities and Expiration Underlying
(Instr. 3) Price of (Month/ (Instr. 8) Acquired (A) or Date (Month/ Securities
Derivative Day/ Disposed of (D) Day/Year)
Security Year) (Instr. 3 and 4)
(Instr. 3, 4,
and 5) Amount
or
Date Expir- Number
Exer- ation of
cisable Date Title Shares
Code V (A) (D)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Rights to Purchase $5.00 3/8/99 X V 105,536 2/5/99 3/8/99 Common 105,536
Common Stock Stock,
par
value
$.01
per
share
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<CAPTION>
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8.Price 9.Number of 10.Ownership 11.Nature of
of Derivative Form of Indirect
Derivative Securities Deriva- Beneficial
Security Beneficially tive Ownership
Owned at Security; (Instr. 4)
(Instr. End of Direct
5) Month (D) or
Indirect
(Instr. 4) (I)
(Instr. 4)
<S> <C> <C> <C>
(1) 0 D
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<S> <C> <C>
Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal /s/ Mitchell D. Clarfield May 7, 1999
Violations. ---------------------------- -----------
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person Date
Mitchell D. Clarfield
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in
this form are not required to respond unless the form displays a currently valid OMB Number. Page 2 of 3
SEC 1474 (7-96)
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<S> <C> <C>
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Name and Address of Reporting Person Issuer Name and Ticker or Trading Symbol Statement for Month/Year
Mitchell D. Clarfield The WMF Group, Ltd. (WMFG) April, 1999
11755 Wilshire Boulevard, 19th Floor
Los Angeles, CA 90025
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1. Shares acquired upon the exercise of 105,536 rights received by Mr.
Clarfield 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. On April 6, 1999, one of the Company's subsidiaries exercised an option
to purchase substantially all of the assets of Carbon Capital Management, in
which Mr. Clarfield owns a 48 percent interest. Mr. Clarfield received 21,109
shares of WMF common stock as partial consideration for this transaction.
3. Includes (A) 64,500 shares of common stock beneficially owned by Carbon
Mesa Advisors, Inc., which is wholly owned by Mr. Clarfield and his spouse, (B)
144,845 shares of unrestricted common stock directly owned by Mr. Clarfield and
(B) 25,000 shares of restricted stock directly owned by Mr. Clarfield.
4. On April 6, 1999, Carbon Mesa Advisors, Inc., which is wholly owned by
Mr. Clarfield and his spouse, completed the sale of 4,500 shares of common
stock.
