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 14, 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 14, 1998, United Financial Mortgage Corp. (the
"registrant") issued a press release regarding the closing on the
acquisition of Mortgage Service America, Inc. 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 20, 1998 /s/ Steve Y. Khoshabe
Vice President and Chief Financial
Officer
FOR IMMEDIATE RELEASE:
United Financial Mortgage Corporation Acquires
Mortgage Service America, Inc.
Chicago, IL - October 14, 1998 - United Financial Mortgage
Corporation (CHX: "UFM"). of Oak Brook, IL today announced it had
closed on its acquisition of Mortgage Service America, Inc. (MSA), of
Lombard, IL. No terms were disclosed. As a part of the agreement,
Mr. Leonard J. Giblin, President of Mortgage Service America, Inc.
will enter into a three-year employment contract to remain as
President of MSA.
Mr. Joseph Khoshabe, President of United Financial Mortgage
Corporation stated "The addition of MSA is expected to increase our
average monthly loan volume by almost 70%. The MSA acquisition
coupled with our additional warehouse lines should improve our
ability to increase loan volume."
United Financial Mortgage Corporation is a national mortgage banker
principally engaged in originating retail and wholesale mortgages 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 Corporation
630-571-7222
www.ufmc.com
[email protected]
Spencer Maus, Director
Dresner Corporate Services, Inc.
312-726-3200, extension 205
[email protected]<PAGE>
