EX-99.1
2
v025279_ex99-1.htm
EXHIBIT
99.1
FOR
IMMEDIATE RELEASE:
United
Financial Mortgage Corp. Announces Closing
of
the
Acquisition of the Prime Wholesale Origination
Division
of AmPro Mortgage Corporation
·
Acquisition is non dilutive and immediately accretive to earnings;
·
Expected to add between $2.4 and $3 billion in annual originations;
·
Acquisition creates the 29th
largest wholesale residential mortgage lender in the country and
ranks
UFMC as the 58th
largest national mortgage lender in the United
States.
Oak
Brook, IL, Thursday, September 1, 2005 --
United
Financial Mortgage Corp. (NASDAQ: UFMC or the "Company") announced today that it
has completed the acquisition of AmPro Mortgage Corporation's eight prime
wholesale production offices and AmPro's Phoenix, Arizona operations center.
The
eight
production offices will continue to do business under the name AmPro Mortgage.
The Company expects the acquisition to contribute total additional annual
originations of between $2.4 and $3 billion, representing between approximately
a 90% to 112% increase over UFMC's fiscal 2005 originations. The acquisition is
also expected to have an accretive impact on UFMC's earnings.
The
acquisition is consistent with UFMC's core growth strategy of growing through
select accretive acquisitions. On completion of the acquisition, according
to
information published by National Mortgage News, which is based in Washington,
DC, UFMC will be the 29th
largest
residential wholesale mortgage lender in the country and the 58th
largest
residential mortgage lender in the United States, based on 2004 loan
originations.
About
United Financial Mortgage Corp.
United
Financial Mortgage Corp. is an independent mortgage banker that originates,
funds, sells and services residential and commercial mortgage loans. The
Company
is headquartered in Oak Brook, Illinois and has 38 retail offices
and 16 wholesale operations centers across 19 states. For additional
information, please visit the Company's web site at www.ufmc.com.
This
press release contains forward-looking statements within the meaning of such
term in the Private Securities Litigation Reform Act of
1995
with respect to the Company's business, financial condition, results of
operations, plans, objectives and future performance. Forward-looking
statements, which may be based upon beliefs, expectations and assumptions
of
management and on information currently available to management, are generally
identifiable by the use of words such as "believe,""expect,""anticipate,""plan,""intend,""estimate,""may,""will,""would,""could,""should" or other
similar expressions.
Additionally, all statements in this document, including forward-looking
statements, speak only as of the date they are made, and the Company undertakes
no obligation to update any statement in light of new information or future
events. A number of factors, many of which are beyond the ability of the
Company
to control or predict, could cause actual results to differ materially from
those in its forward-looking statements, including, among others, changes
in demand for mortgage loans, the Company's access to funding sources and the
terms upon which it can obtain financing, assumptions underlying the value
of
the Company's retained mortgage loan-servicing rights, the impact of economic
slowdowns or recessions, management's ability to manage the Company's growth and
planned expansion, difficulties in integrating or operating newly acquired
businesses, competition in the Company's market, changes in government
regulations, the Company's ability to expand origination volume while reducing
overhead, the impact of new legislation or court decisions restricting the
activities of lenders or suppliers of credit in the Company's market, other risk
factors disclosed from time to time in the Company's filings with the Securities
and Exchange Commission and the inability of the Company to manage the risks
associated with the foregoing as well as anticipated. These risks and
uncertainties should be considered in evaluating forward-looking statements
and
undue reliance should not be placed on such statements. Additional information
concerning the Company and its business, including additional factors that
could
materially affect the Company's financial results, is included in the Company's
filings with the Securities and Exchange Commission.
For
Further Information Contact:
Dave
Gentry, Aurelius
Consulting Group, Inc.,
Century
Bank Building, 541 S. Orlando Avenue, Suite 206, Maitland, FL 32751, (407)
644-4256, Fax: (407) 644-0758, dave@aurcg.com

EX - 99 . 1 2 v025279 _ ex99 - 1 . htm EXHIBIT 99 . 1 FOR IMMEDIATE RELEASE : United Financial Mortgage Corp . Announces Closing of the Acquisition of the Prime Wholesale Origination Division of AmPro Mortgage Corporation · Acquisition is non dilutive and immediately accretive to earnings ; · Expected to add between $ 2.4 and $ 3 billion in annual originations ; · Acquisition creates the 29th largest wholesale residential mortgage lender in the country and ranks UFMC as the 58th largest national mortgage lender in the United States . Oak Brook , IL , Thursday , September 1 , 2005 -- United Financial Mortgage Corp . ( NASDAQ : UFMC or the " Company " ) announced today that it has completed the acquisition of AmPro Mortgage Corporation 's eight prime wholesale production offices and AmPro 's Phoenix , Arizona operations center . The eight production offices will continue to do business under the name AmPro Mortgage . The Company expects the acquisition to contribute total additional annual originations of between $ 2.4 and $ 3 billion , representing between approximately a 90 % to 112 % increase over UFMC 's fiscal 2005 originations . The acquisition is also expected to have an accretive impact on UFMC 's earnings . The acquisition is consistent with UFMC 's core growth strategy of growing through select accretive acquisitions . On completion of the acquisition , according to information published by National Mortgage News , which is based in Washington , DC , UFMC will be the 29th largest residential wholesale mortgage lender in the country and the 58th largest residential mortgage lender in the United States , based on 2004 loan originations . About United Financial Mortgage Corp . United Financial Mortgage Corp . is an independent mortgage banker that originates , funds , sells and services residential and commercial mortgage loans . The Company is headquartered in Oak Brook , Illinois and has 38 retail offices and 16 wholesale operations centers across 19 states . For additional information , please visit the Company 's web site at www.ufmc.com . This press release contains forward - looking statements within the meaning of such term in the Private Securities Litigation Reform Act of 1995 with respect to the Company 's business , financial condition , results of operations , plans , objectives and future performance . Forward - looking statements , which may be based upon beliefs , expectations and assumptions of management and on information currently available to management , are generally identifiable by the use of words such as " believe , "" expect , "" anticipate , "" plan , "" intend , "" estimate , "" may , "" will , "" would , "" could , "" should " or other similar expressions . Additionally , all statements in this document , including forward - looking statements , speak only as of the date they are made , and the Company undertakes no obligation to update any statement in light of new information or future events . A number of factors , many of which are beyond the ability of the Company to control or predict , could cause actual results to differ materially from those in its forward - looking statements , including , among others , changes in demand for mortgage loans , the Company 's access to funding sources and the terms upon which it can obtain financing , assumptions underlying the value of the Company 's retained mortgage loan - servicing rights , the impact of economic slowdowns or recessions , management 's ability to manage the Company 's growth and planned expansion , difficulties in integrating or operating newly acquired businesses , competition in the Company 's market , changes in government regulations , the Company 's ability to expand origination volume while reducing overhead , the impact of new legislation or court decisions restricting the activities of lenders or suppliers of credit in the Company 's market , other risk factors disclosed from time to time in the Company 's filings with the Securities and Exchange Commission and the inability of the Company to manage the risks associated with the foregoing as well as anticipated . These risks and uncertainties should be considered in evaluating forward - looking statements and undue reliance should not be placed on such statements . Additional information concerning the Company and its business , including additional factors that could materially affect the Company 's financial results , is included in the Company 's filings with the Securities and Exchange Commission . For Further Information Contact : Dave Gentry , Aurelius Consulting Group , Inc . , Century Bank Building , 541 S. Orlando Avenue , Suite 206 , Maitland , FL 32751 , ( 407 ) 644 - 4256 , Fax : ( 407 ) 644 - 0758 , dave@aurcg.com
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