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) March 17, 1999
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 March 26, United Financial Mortgage Corp. (the "registrant") issued a
press release regarding the Board of Directors approval for a stock
repurchase program. In addition, the Board has authorized the filing of
an application for listing on NASDAQ Small Cap Market. 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
March 26, 1999 Vice President and
Chief Financial Officer
FOR IMMEDIATE RELEASE:
FOR ADDITIONAL INFORMATION:
Steve Khoshabe, Executive Vice-President/CFO Spencer Maus, Director
United Financial Mortgage Corp. Dresner Corporate Services
630-571-7222 312-726-3200, ext. 205
www.ufmc.com [email protected]
sk.ufmc.com
United Financial Mortgage Corp. Board of Directors Approve Stock
Repurchase and NASDAQ Listing Application Filing.
Chicago, IL-March 26, 1999-United Financial Mortgage Corp. (CHX: "UFM") of Oak
Brook, IL announced its Board of Directors has authorized the Company's
repurchase of its common stock in the open market. The Company did not
disclose the number or total value of shares it will repurchase, but indicated
that it would act as market conditions dictate. The Company stated the
decision was based in part on the current market price of its stock and most
recently reported 3rd quarter revenues and earnings. United Financial reported
on March 16, 1999 record revenues and net income for both the fiscal 1999 3rd
quarter and the first nine months, ended January 31, 1999.
United Financial also announced that its Board of Directors has authorized the
filing of an application for listing on the Nasdaq Small Cap Market. The
Company stated that it would continue to maintain the listing of its stock on
the Chicago Stock Exchange.
Mr. Joseph Khoshabe, President of United Financial Mortgage Corp. stated "I am
very pleased with the actions taken by the Board of Directors. This is a
strong vote of confidence in our ability to continue having the success we
achieved in our most recently reported quarter."
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's web
site www.ufmc.com allows consumers to get information on the many different
types of mortgage loans offered by the Company, calculated mortgage payments,
and apply on-line for a mortgage.
This press release may contain certain 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.
