CFI Mortgage Inc. (fka CFIM)

[LorenS]

CFI Mortgage, Inc., Continues to Move Forward to Formalize a Closing of Its Acquisition of Lender Ltd.


CLEARWATER, Fla.--(BUSINESS WIRE)--Jan. 3, 2002--CFI Mortgage, Inc. (OTCBB:CFIM) announced today that it continues to move forward with great resolve toward closing the acquisition of Lender Ltd. Both parties are now working diligently to provide the funding sources with the necessary documentation, which will enable the formalized closing to take place in the near future.

Jim Wickham, President of Lender Ltd. said, "The events of Sept. 11, 2001 and its impact on our economy and the subsequent interest rate reductions, had a profound effect on the mortgage industry, leaving us inundated with loan applications resulting in our need to increase our warehouse lines and tend to the business at hand. Although we are totally committed to the deal with CFI, the influx of business left us little time to devote to finalizing the transaction. We can now see our way clear and hope to be a part of CFI in the very near future."

Stephen E. Williams, Chairman, President and CEO of CFI said, "At this time we are awaiting a more definitive closing date to be established by our Investment Bankers, which I believe should be forthcoming in the very near future. Although we thought this transaction would have already closed, I certainly appreciate Jim Wickham's dedication to Lender Ltd. and its employees and know that he will bring that same dedication and drive to our new organization."

CFI's goal, through acquisition and internal growth, is to be a diversified leader creating custom software that provides technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage industry. For more information on CFI please visit the Company web site at http://www.cfiinc.com or that of Responsive Research at http://www.responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor updates and market letters, which will keep you apprised of all late breaking CFI news.

This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

CONTACT:

Responsive Research, Inc., Coconut Creek, Fla.

Investor Relations: Richard C. Winkel, 954/977-8699

[e-mail]

or

CFI Mortgage, Inc., Clearwater

Investor Relations: Marlene Noren, 727/674-1010

[e-mail]

KEYWORD: FLORIDA







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