UNITED STATES
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) October 6, 1998
UNITED FINANCIAL MORTGAGE CORP.
(Exact name of small business issuer as specified in its
charter)
ILLINOIS 36-3440533
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
600 Enterprise Drive,
Suite 206
Oak Brook, Illinois 60523
Issuer's telephone number: (630) 571-7222
_________________Not Applicable_________________
(Former name or former address, if changed since last report)
Item 5. Other Events
On October 6, 1998, United Financial Mortgage Corp. (the
"registrant") issued a press release regarding a new warehouse credit
line with Lau Capital. 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 Corp.
Date Signed
October 9, 1998 /s/ Steve Y. Khoshabe
Vice President and Chief Financial
Officer
FOR IMMEDIATE RELEASE:
United Financial Corporation Increases Warehouse Credit Lines 67% to
50 Million
Chicago, IL - October 6, 1998 - United Financial Mortgage Corporation
(CHX: "UFM"), of Oakbrook, IL announced today that it has obtained an
additional $20 million warehouse line of credit from Lau Capital Funding,
of Los Angeles, CA. The credit line boosts United Financial's total
residential warehouse credit facilities to $50 million - a 150 percent
increase from $20 million at the end of fiscal 1998. The Company uses its
warehouse credit line to aggregage mortgage loans until they are sold to
third-party investors or packaged with other loans for sale into the
secondary market.
United Financial Mortgage Corp. is a national mortgage banker
principally engaged in originating retail and wholesale mortgage for
single family residences of one to four units. The Company is
headquartered in Oak Brook, Illinois and has regional offices in
several other states. The Company's web site(www.ufmc.com) allows
consumers to get information on the many different types of mortgage
loans offered by the Company, calculate mortgage 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.
For Additional Information:
Steve Khoshabe, Executive Vice President/CFO
United Financial Mortgage Corp
630-571-7222
www.ufmc.com
[email protected]
Spencer Maus, Director
Dresner Corporate Services, Inc.
312-726-3200, extension 204
[email protected]
