LOMAS FINANCIAL CORP
NT 10-K, 1995-09-28
MORTGAGE BANKERS & LOAN CORRESPONDENTS
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                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                 FORM 12b-25

                         NOTIFICATION OF LATE FILING

(Check One):
[X] Form 10-K   [ ] Form 20-F   [ ] Form 11-K   [ ] Form 10-Q   [ ] Form N-SAR


                For Period Ended:  June 30, 1995 
                                  --------------------------
                [ ] Transition Report on Form 10-K
                [ ] Transition Report on Form 20-F
                [ ] Transition Report on Form 11-K
                [ ] Transition Report on Form 10-Q
                [ ] Transition Report on Form N-SAR
                For the Transition Period Ended:
                                                ------------------------------



Read Instruction (on back page) Before Preparing Form. Please Print or Type.

NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
VERIFIED ANY INFORMATION CONTAINED HEREIN.



If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

     Lomas Financial Corporation
- ------------------------------------------------------------------------------

PART I - REGISTRANT INFORMATION

     Lomas Financial Corporation
- ------------------------------------------------------------------------------
FULL NAME OF REGISTRANT


- ------------------------------------------------------------------------------
FORMER NAME IF APPLICABLE

     1600 Viceroy Drive, 4th Floor
- ------------------------------------------------------------------------------
ADDRESS OF PRINCIPAL EXECUTIVE OFFICE (STREET AND NUMBER)

     Dallas, TX  75235
- ------------------------------------------------------------------------------
CITY, STATE AND ZIP CODE

PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following
should be completed.  (Check box if appropriate)

          (a)  The reasons described in reasonable detail in Part III of this
- ---            form could not be eliminated without unreasonable effort or 
               expense;
          (b)  The subject annual report, semi-annual report, transition report
- ---            on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof,
               will be filed on or before the fifteenth calendar day following
               the prescribed due date; or the subject quarterly report of
               transition report on Form 10-Q, or portion thereof will be filed
               on or before the fifth calendar day following the prescribed due
               date; and
- ---       (c)  The accountant's statement or other exhibit required by Rule
               12b-25(c) has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.  (ATTACH EXTRA SHEETS IF NEEDED)

See attached
- --------------------------------------------------------------------------------
                                                (ATTACH EXTRA SHEETS IF NEEDED)
<PAGE>   2
PART IV - OTHER INFORMATION

(1)  Name and telephone number of person to contact in regard to this
     notification

              Gary White                      214               879-5540
     --------------------------------    -------------    ---------------------
               (Name)                     (Area Code)       (Telephone Number)

(2)  Have all other periodic reports required under Section 13 or 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company 
     Act of 1940 during the preceding 12 months (or for such shorter) period 
     that the registrant was required to file such reports) been filed?  If 
     answer is no, identify report(s).
                                                        X  Yes          No
                                                       ---          ---
     --------------------------------------------------------------------------

(3)  Is it anticipated that any significant change in results of operations
     from the corresponding period for the last fiscal year will be reflected 
     by the earnings statements to be included in the subject report or 
     portion thereof?

                                                        X  Yes          No
                                                       ---          ---

     If so, attach an explanation of the anticipated change, both narratively
     and quantitatively, and, if appropriate, state the reasons why a reasonable
     estimate of the results cannot be made.

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


                         Lomas Financial Corporation
           ---------------------------------------------------------
                 (NAME OF REGISTRANT AS SPECIFIED IN CHARTER)


has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.


Date:  September 28, 1995                   By: /s/ GARY WHITE 
     ------------------------------         -----------------------------------
                                                    Gary White,
                                                    Senior Vice President


INSTRUCTION:  The form may be signed by an executive officer of the registrant
or by any other duly authorized representative.  The name and title of the
person signing the form shall by typed or printed beneath the signature.  If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.


                              A T T E N T I O N

Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).



                             GENERAL INSTRUCTIONS

1.  This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General
    Rules and Regulations under the Securities Exchange Act of 1934.

2.  One signed original and four conformed copies of this form and amendments
    thereto must be completed and filed with the Securities and Exchange
    Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the 
    General Rules and Regulations under the Act.  The information contained in
    or filed with the form will be made a matter of public record in the 
    Commission files.

3.  A manually signed copy of the form and amendments thereto shall be filed
    with each national securities exchange on which any class of securities of
    the registrant is registered.

4.  Amendments to the notifications must also be filed on form 12b-25 but need
    not restate information that has been correctly furnished.  The form shall 
    be clearly identified as an amended notification.

<PAGE>   3
                         LOMAS FINANCIAL CORPORATION
                                 FORM 12b-25
                         NOTIFICATION OF LATE FILING
                  FORM 10-K FOR THE YEAR ENDED JUNE 30, 1995
                                      



Part III--Narrative

          Form 10-K for the period ended June 30, 1995 cannot be filed within
the prescribed time period. As announced on September 7, 1995, the Company
reached an agreement to sell certain assets of its mortgage banking operation
("LMUSA") to a financial institution. The assets being sold included one-third
of LMUSA's servicing portfolio. The closing of this transaction is scheduled to
occur in early October 1995. The transaction has a significant impact on the
Company's financial position and performance.

          The Company's independent auditors are assessing the potential
effects of the transaction on the financial statements of the Company for
fiscal 1995.



Part IV (3)--Other Information

          The Company is expected to announce a loss for fiscal 1995.



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