SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): January 24, 1995
Lomas Financial Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-6868 75-1043392
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
1600 Viceroy Drive, Dallas, Texas 75235
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 879-4000
None
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(Former name or former address, if changed since last report)
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Lomas Financial Corporation
Form 8-K
Item 4. Changes in Registrant's Certifying Accountant.
(a) 1. Ernst & Young LLP was dismissed effective as of
January 24, 1995 as the Registrant's independent
auditors. The Registrant was satisfied with the
accounting and audit services performed by Ernst &
Young LLP. The decision to change auditors was
based on economic considerations as part of the
Registrant's ongoing cost reduction efforts. In
order to reach this decision, between November 1,
1994 and January 24, 1995 management obtained
proposals for accounting and audit services from
several accounting firms, including Ernst & Young
LLP. These firms were allowed to review the
Registrant's financial statements and accounting
policies and principles.
2. The Ernst & Young LLP reports dated August 27, 1993
and September 22, 1994 on the Registrant's
consolidated financial statements for the two
fiscal years ended June 30, 1993 and June 30, 1994,
did not contain an adverse opinion or a disclaimer
of opinion, nor was any such report qualified or
modified as to uncertainty, audit scope, or
accounting principles.
3. On January 24, 1995, the decision to change
independent auditors was recommended by the Audit
Committee of the Registrant's Board of Directors to
the Registrant's Board of Directors and approved by
the Registrant's Board of Directors.
4. During the two fiscal years ended June 30, 1993 and
June 30, 1994, and through the date of dismissal of
Ernst & Young LLP, there were no disagreements
between the Registrant and Ernst & Young LLP on any
matter of accounting principles or practices,
financial statement disclosure, or auditing scope
or procedures, which disagreement(s), if not
resolved to the satisfaction of Ernst & Young LLP,
would have caused it to make reference to the
subject matter of the disagreement(s) in connection
with its report.
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5. No reportable event described in paragraph
(a)(1)(v) of Item 304 of Regulation S-K has
occurred during the Registrant's two fiscal years
ended June 30, 1993 and June 30, 1994, and through
the date of dismissal of Ernst & Young LLP.
(b) On January 30, 1995, the Registrant engaged KPMG
Peat Marwick LLP as its independent auditors.
During the Registrant's two fiscal years ended
June 30, 1993 and June 30, 1994 and the fiscal
quarter ended September 30, 1994, and through the
date of engagement of KPMG Peat Marwick LLP,
neither the Registrant (nor someone on its behalf)
consulted with KPMG Peat Marwick LLP regarding any
of the matters specified in Item 304(a)(2) of
Regulation S-K.
The Registrant has requested Ernst & Young LLP to
furnish the Registrant with a letter addressed to
the Securities and Exchange Commission stating
whether it agrees with the above statements. A
copy of that letter, dated January 30, 1995 is
filed as Exhibit 16 to this Form 8-K.
Item 7. Financial Statements and Exhibits.
(a) None.
(b) None.
(c) Exhibits.
16. Letter dated January 30, 1995 from Ernst & Young
LLP to the Securities and Exchange Commission
regarding change in certifying accountant.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
LOMAS FINANCIAL CORPORATION
(Registrant)
By: /S/GARY WHITE
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Gary White
Senior Vice President and
Controller
Date: January 30, 1995
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INDEX TO EXHIBITS
Exhibit No. Description Page No.
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16 Letter dated January 30, 1995 from 6
Ernst & Young LLP to the Securities
and Exchange Commission regarding
change in certifying accountant
Exhibit 16
ERNST & YOUNG LLP Suite 500 Phone: 214 969 8000
2121 San Jacinto Street
Dallas, Texas 75201
January 30, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We have read Item 4 of Form 8-K dated January 24, 1995
of Lomas Financial Corporation and are in agreement with
the statements contained in paragraphs (a)2, 4 and 5.
We have no basis to agree or disagree with other
statements of the registrant contained in the
above-referenced filing.
ERNST & YOUNG LLP
