CFI MORTGAGE, INC. FILES
                     FOR REORGANIZATION UNDER CHAPTER 11


WEST PALM BEACH, Florida --- March 15, 1999 - CFI Mortgage, Inc. (OTC-BB: CFIM)
a diversified consumer finance company, today said it has filed for
reorganization under Chapter 11 of the U.S. Bankruptcy Code.

The filing was made in the U.S. Bankruptcy Court for the Southern District of
Florida.

"The readjustment of subprime mortgage loan valuations among other factors made
this step necessary", the company said, adding, "we will attempt to settle with
our creditors, reorganize and restart."