CFI Mortgage, Inc. Subsidiary, First United MortgageBanc, Inc., Announces Licensing in 33 States
CLEARWATER, Fla.--(BUSINESS WIRE)--May 2, 2001--CFI Mortgage, Inc. (OTCBB:CFIM) announced today that its subsidiary, First United MortgageBanc, Inc. (FUMB) is now licensed and cleared to do business in 33 states. FUMB recently received its licenses in California and Rhode Island bringing the total to nine new licenses received in 2001.
Robert Scarpetta, President and COO of FUMB said, "As we continue to expand our reach nationwide, the addition of California to our marketplace will significantly increase our potential loan volume. Our success in obtaining licenses in so many states attests to our stability and the experience of our mortgage staff."
"We recently announced the development of a Government Lending Department and it is imperative that we maximize the potential of that department. We are doing this by increasing our market area, our staff and our productivity time." said Stephen E. Williams, Chairman, President and CEO of CFI Mortgage, Inc., who added, "Our ability to capitalize on this period of declining interest rates will produce both top and bottom line growth."
CFI provides mortgage services through a large network of mortgage brokers and financial professionals. 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 www.cfiinc.com or that of Responsive Research at 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.
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