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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) July 1, 1998
United Financial Mortgage Corp.
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(Exact name of registrant as specified in its charter)
Illinois 333-27037 36-3440533
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(State or other (Commission File Number) (I.R.S. Employer
jurisdiction Identification No.)
of incorporation)
600 Enterprise Drive, Suite 206 Oak Park, Illinois 60054
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (630) 571-7222
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
News releases of the registrant dated July 1, 1998 and July 6, 1998, and
attached hereto respectively as Exhibit A and Exhibit B.
Signatures
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
hereunto duly authorized.
United Financial Mortgage Corp.
/s/ Robert S. Luce
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July 7, 1998 Robert S. Luce, Secretary
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EXHIBIT A
FOR IMMEDIATE RELEASE
Media contact:
Jim Fitzpatrick
The Dilenschneider Group
312/553-0700
[email protected]
UNITED FINANCIAL MORTGAGE CORP. WELCOMED TO CHICAGO
STOCK EXCHANGE IN LISTING CEREMONY
CHICAGO, IL, July 1, 1998 - In a listing ceremony held June 23rd, Oak
Brook-based United Financial Mortgage Corp. (CHX:UFM), a national residential
mortgage banker, was formally welcomed to trading on the Chicago Stock Exchange
(CHX).
United Financial, licensed as a mortgage banker in 25 states, completed its
Initial Public Offering of 800,000 shares on June 4, raising $5.2 million in
capital for the company, which it plans to use to strengthen its balance sheet,
increasing its capacity to raise additional capital for mortgage lending
activities.
"We are absolutely delighted to be listed on the Chicago Stock Exchange,"
said Joseph Khoshabe, president and chief executive officer of United Financial
Mortgage Corp. "Making the transition from a privately held company to a
publicly traded entity will provide us with the market liquidity and market
recognition to help us continue our growth."
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EXHIBIT B
NEWS RELEASE
FAX TO:
Media Contact:
Name: Mr. Robert S. Luce Jim Fitzpatrick
Company: The Dilenschneider Group
Fax number: 847-776-9810 312-553-0700
[email protected]
UNITED FINANCIAL ADDS $10 MILLION WAREHOUSE CREDIT LINE
Mortgage Banker Boosts Lending Capacity by 50 Percent
OAKBROOK, IL, July 6, 1998 - United Financial Mortgage Corp. (CHX:UFM), a
national residential mortgage banker, today announced that it has received a $10
million warehouse line of credit from Provident Consumer Financial Services of
Cincinnati, Ohio. The new line raises United Financial's total residential
warehouse credit facilities by 50 percent to $30 million.
"This additional credit will allow us to increase our loan production
significantly," said Joseph Khoshabe, president and CEO of United Financial.
"It will help us deliver on our commitment to grow the company aggressively."
With a warehouse facility of $20 million, the company recorded loan volume
of roughly $220 million in its most recent fiscal year, ended April 30. The
company uses its warehouse credit line to aggregate residential mortgage loans
until they are sold to third-party investors or packaged with other loans for
sale into the secondary market.
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UNITED FINANCIAL ADDS $10 MILLION
United Financial Mortgage Corp. 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
completed its initial public offering of common stock on June 4, 1998.
This news 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.
