United Financial Mortgage Corporation (UFMC) is engaged in the mortgage banking business in 36 states.

The business of UFMC is primarily focused on the origination of mortgage loans secured by residential real estate (single family residences and one-to four-family residential properties). The Company originates these mortgage loans through its wholesale origination division, retail origination division and UFMC's relationships with internet websites.

United Financial Mortgage also services mortgage loans for others through its Mortgage loan servicing division. During the fiscal year ended April 30, 2004 (fiscal 2004), the Wholesale origination division accounted for approximately 73.2% of the mortgage loan origination volume.