SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) August 31, 1998
United Financial Mortgage Corp.
(Exact name of registrant as specified in its charter)
Illinois_________________________________
(State or other jurisdiction of incorporation)
600 Enterprise Drive, Suite 206, Oak Brook, Illinois 60523
(Address of principal executive offices)
Registrant's telephone number, including area code: (630) 571-7222
________________Not Applicable_____________
(Former name or former address, if changed since last report.)
Item 5. Other Events
On August 31, 1998, United Financial Mortgage Corp. (the
"registrant") issued a press release regarding the signing of a
letter of intent to acquire Mortgage Services of America, Inc. The
transactions contemplated by the letter of intent are subject to
various contingencies, including due diligence matters and execution
of definitive acquisition documents. A copy of the press release is
attached hereto as Exhibit 99.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereto duly authorized.
United Financial Mortgage Corporation
/S/ Steve Y. Khoshabe
September 1, 1998 Vice President and Chief
Financial Officer
United Financial Mortgage Corporation Announces Intent to Acquire
Mortgage Service America, Inc.
CHICAGO--(BUSINESS WIRE)--Aug. 31, 1998-United Financial Mortgage
Corporation(CHX:"UFMC"), of Oak Brook, IL announced it had received an
executed Letter of Intent from Mortgage Service America, Inc. (MSA),
of Lombard, IL, accepting United Financial's offer to acquire all
common and preferred stock of MSA.
United Financial anticipates consummating the acquisition on or
before October 31, 1998. Mr. Leonard J. Giblin, President of
Mortgage Service America, Inc. will enter into a three-year employment
contract to remain as President of MSA. No other terms were
disclosed.
Mr. Joseph Khoshabe, President of United Financial Mortgage
Corporation stated "We are very pleased with the acquisition of
Mortgage Service America and with Mr. Giblin's willingness to
continue as its President. Our business plan calls for us to grow
through internal expansion and acquisition. The addition of MSA
increases our average monthly loan volume by almost 70%".
Mr. Leonard J. Giblin, President of Mortgage Service America, Inc.
added, "I have been very impressed with Mr. Khoshabe and United
Financial. I look forward to working closely with United Financial's
executives and participating in its very exciting future."
United Financial Mortgage Corporation is a national mortgage banker
principally engaged in originating retail and whole mortgages for
single family residences of one to four units. United Financial is
headquartered in Oak Brook, Illinois with regional offices in several
other states. United Financial's web site (www.ufmc.com) allows
consumers to get information on United Financial's various
mortgage loans, calculate payments and apply on-line for a mortgage.
This press release may contain forward looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from the statements contained herein. Such risks
and uncertainties include, but are not limited to, changes in the
performance of the financial markets, changes in the demand for and
market acceptance of the Company's products, changes in the mortgage
lending industry or changes in general economic conditions, including
interest rates, the impact of competition, changes in the value of
real estate, the ability to maintain and increase sources of funding,
and other risks disclosed from time to time in the Company's SEC
reports and filings.<PAGE>
