WMF GROUP LTD
3, 2000-05-22
REAL ESTATE AGENTS & MANAGERS (FOR OTHERS)
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                                                /------------------------------/
                                                /        OMB APPROVAL          /
                                                /------------------------------/
                                          \     / OMB Number:        3235-0104 /
EDIT OR DELETE AS NECESSARY----------------     / Expires:   December 31, 2001 /
                                          /     / Estimated average burden     /
                                                / hours per response...... 0.5 /
                                                /------------------------------/


+--------+
| FORM 3 |          UNITED STATES SECURITIES AND EXCHANGE COMMISSION
+--------+                     WASHINGTON, D.C. 20549

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    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

(Print or Type Responses)

- --------------------------------------------------------------------------------
1.  Name and Address of Reporting Person*

                   Prudential Mortgage Capital Company, LLC
    ----------------------------------------------------------------------------
        (Last)                      (First)                        (Middle)

                             Four Gateway Center
    ----------------------------------------------------------------------------
                                   (Street)

                             Newark, NJ 07102-4069
    ----------------------------------------------------------------------------
        (City)                      (State)                           (Zip)


2.  Date of Event Requiring Statement (Month/Day/Year)             May 10, 2000
                                                                  --------------

3.  IRS or Social Security Number of Reporting Person
    (Voluntary)
                --------------

4.  Issuer Name and Ticker or Trading Symbol The WMF Group, Ltd. (WMFG)
                                             -----------------------------------

5.  Relationship of Reporting Person(s) to Issuer (Check all applicable)

    [ ] Director    [ ] Officer             [ ] 10% Owner    [X] Other
                        (give title below)                       (specify below)


    ----------------------------------------------------------------------------

6.  If Amendment, Date of Original (Month/Day/Year)
                                                    ----------------------------

7.  Individual or Joint/Group Filing (Check Applicable Line)

      X   Form filed by One Reporting Person
    -----

          Form filed by More than One Reporting Person
    -----


             TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED

<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
1. Title           2. Amount of         3. Ownership Form:  4. Nature of
   of                 Securities Bene-     Direct (D) or       Indirect Bene-
   Security           ficially Owned       Indirect (I)        ficial Ownership
   (Instr. 4)         (Instr. 4)           (Instr. 5)          (Instr. 5)
- --------------------------------------------------------------------------------
<S>               <C>                   <C>                 <C>

Common stock,
 par value $.01
 per share             8,260,876                I               01 and 02
- --------------------------------------------------------------------------------

</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.

* If the form is filed by more than one reporting person,
  see Instruction 5(b)(v).

                                                                          (Over)
                                                                 SEC 1473 (3-99)

<PAGE>

FORM 3 (continued)

              TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
        (e.g., puts, calls, warrants, options, convertible securities)

<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
 1. Title of Derivative        2. Date Exer-    3. Title and Amount of Securities   4. Conversion   5. Ownership   6. Nature of In-
    Security (Instr. 4)           cisable and      Underlying Derivative Security      or              Form of        direct Bene-
                                  Expiration       (Instr. 4)                          Exercise        Derivative     ficial
                                  Date                                                 Price           Security:      Ownership
                                  (Month/Day/                                          of              Direct (D)     (Instr. 5)
                                  Year)                                                Derivative      or In-
                              ----------------------------------------------------     Security        direct (I)
                               Date      Expira-                        Amount or                      (Instr. 5)
                               Exer-     tion            Title          Number of
                               cisable   Date                           Shares
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>       <C>    <C>                     <C>         <C>             <C>            <C>

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

** Intentional misstatements or omissions of facts constitute Federal Criminal
   Violations.


   ------------------
   See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).


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.


Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction
5(b)(v).

   /s/ Michael B. Jameson                           5/22/00
   -------------------------------                  --------
   **Signature of Reporting Person                     Date


  Name: Michael B. Jameson

  Title: Senior Vice President of Prudential Mortgage Capital Company, LLC.

                                                                          (Over)
                                                                 SEC 1473 (3-99)


<PAGE>

FORM 3 (continued)

                                    FORM 3
                              CONTINUATION SHEET



Item 1:   Prudential Mortgage Capital Company, LLC

Item 2:   May 10, 2000

Item 4:   The WMF Group, Ltd. (WMFG)



                           EXPLANATION OF RESPONSE:


01:  On May 10, 2000, Prudential Mortgage Capital Company, LLC, a Delaware
     limited liability company, entered into a Stockholders Agreement (the
     "Stockholders Agreement") with each of Capricorn Investors II, L.P.,
     Capricorn Holdings, Inc., Demeter Holdings Corporation, Phemus Corporation,
     Commonwealth Overseas Trading Company Limited, Mohammed A. Al-Tuwaijri, J.
     Roderick Heller, III, John D. Reilly and Shekar Narashimhan (collectively,
     the "Selling Stockholders"). Under the Stockholders Agreement, the Selling
     Stockholders are obligated to tender to Prudential Mortgage Capital
     Company, LLC their shares of The WMF Group, Ltd. ("WMF") representing in
     total approximately 65% of the outstanding shares of WMF on a fully diluted
     basis.

02:  Prudential Mortgage Capital Acquisition Corp. is a wholly-owned subsidiary
     of Prudential Mortgage Company, LLC. Prudential Mortgage Capital Company,
     LLC is a wholly-owned subsidiary of The Prudential Insurance Company of
     America.





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