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) June 25, 1999
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 June 25, 1999, United Financial Mortgage Corp. (the
"registrant") issued a press release announcing record loan volume
and anticipation of record earnings for fiscal year 1999. 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
July 1, 1999 /s/ Steve Y. Khoshabe
Vice President and Chief Financial
Officer
FOR IMMEDIATE RELEASE:
For Additional Information:
Steve Khoshabe, Executive Vice President/CFO
United Financial Mortgage Corp
(630) 571-7222
www.ufmc.com
[email protected]
Spencer Maus, Senior Vice President
Dresner Corporate Services, Inc.
(312) 726-3200, extension 205
[email protected]
United Financial Mortgage Reports Record Loan Volume
Anticipates Record Earnings for Fiscal Year 1999
Chicago, IL - June 25, 1999 - United Financial Mortgage Corp.
(CHX: "UFM"), of Oak Brook, IL today announced record loan volume
for the 1999 fiscal year. For the period ending April 30, 1999, loan
volume increased to $412,374,771 from $225,000,000 a year ago. United
Financial further stated that it anticipates reporting record revenues
and earnings on or before July 8, 1999.
Commenting on the record 1999 results, Mr. Joseph Khoshabe, President
of United Financial Mortgage Corp. stated, "Our strategy was to increase
loan volume through expansion of our core businesses, acquisitions, and
other alliances. In October, we acquired Mortgage Service America, which
increased our average monthly loan volume. And in April we announced a
strategic alliance to exclusively provide mortgage products and services
to the customers of one of Chicago's oldest and most highly regarded
financial institutions, the Austin Bank of Chicago.
"Our record performance reflects the soundness of our strategy in key
residential mortgage markets along with a favorable interest rate
environment. While interest rates have increased over the past
several months, we remain cautiously optimistic that our strategy will
benefit our shareholders in fiscal 2000," he concluded.
United Financial Mortgage Corp. is a national mortgage banker principally
engaged in both retail and wholesale mortgages for family residences of one
to four units. The Company is headquartered in Oak Brook, IL 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.
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This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intened to
be covered by the safe harbors created hereby. Statements in this release
that are not strictly historical are "forward-looking" statements that are
subject to risk and and uncertainty. Investors are cautioned that all
"forward-looking" statements contained herein may not be reasonable and
assumptions could be inaccurate, and should not be construed, considered or
assumed as guarantees. The inclusion of such information should not be
regarded as a representation or guarantee, by the Company, or any other person
that the objectives and plans, stated herein, will be achieved. 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. Unknown factors could cause actual results
to differ as well as other risks detailed in the Company's reports filed with
the Securities and Exchange Commission, including its prospectus, 10K and 10Q
filings.
