EXHIBIT 99

 For Further Information Contact:
 Steve Khoshabe, President & Chief Executive Officer, United Financial
 Mortgage Corp., 815 Commerce Drive, Suite 100, Oak Brook, IL 60523,
 (630) 571-7222, Fax: (630) 571-2623, sk@ufmc.com

 Dave Gentry, Aurelius Consulting Group, Inc. 200 St. Andrews Boulevard,
 Suite 1808, Winter Park, FL 32792, (407) 644-4256, Fax: (407) 644-0758,
 Aurelius@cfl.rr.com


 FOR IMMEDIATE RELEASE:

             United Financial Mortgage Corp. Announces Definitive
                Agreement to Acquire Portland Mortgage Company


 Oak Brook, IL, April 29, 2003 -- United Financial Mortgage Corp. (Amex: UFM
 or "the Company") announced today that it has signed a definitive agreement
 to acquire Portland Mortgage Company ("Portland Mortgage").

 Portland Mortgage is a privately held mortgage banker with 58 full-time
 employees engaged in both wholesale and retail residential lending.
 Portland Mortgage has been serving the Portland metropolitan and surrounding
 areas since 1983.  Portland Mortgage operates four branches in Oregon and
 two in southwest Washington State.

 Steve Khoshabe, President and CEO of UFM, stated,  "I look forward to the
 successful culmination of this acquisition.  The Portland Mortgage Company
 is a top-flight organization with superb management, strong revenues and
 an unmatched reputation in the mortgage business.  This acquisition will
 provide us with greater visibility in the Northwestern United States while
 adding significantly to our revenues and net income."

 The acquisition will be non-dilutive and immediately accretive to UFM's
 earnings.  For the year ended December 31, 2002, Portland Mortgage
 originated $476 million in mortgage loans and had revenues of approximately
 $8 million.  Through three-quarters ending January 31st, 2003, UFM had
 revenues of $33,005,872 with earnings of .72 per diluted share.

 Ron Rudy, the founder of Portland Mortgage, will remain in his current role
 as president of Portland Mortgage.  Mr. Rudy is a past president of the
 Oregon Mortgage Bankers Association and is one of the three residential
 lenders from Oregon who have served on the Mortgage Bankers Association of
 America Board of Governors during the past decade, and the only Oregonian
 to serve on the Board of Directors.

 Mr. Rudy, stated, "This relationship with United Financial Mortgage Corp.
 provides us with the financial foundation necessary to expand and grow our
 business in the Northwestern United States.  The synergies between the two
 companies make this a perfect fit for us".


 About United Financial Mortgage

 United Financial Mortgage  Corp. is a  national mortgage banker  principally
 engaged in  originating retail  and  wholesale mortgages  for  single-family
 residences of one to four units.  The Company is headquartered in Oak Brook,
 Illinois and has offices  in several other states.   The Company's web  site
 (www.ufmc.com) allows consumers  to get  information on  the many  different
 types of mortgage loans offered by the Company, calculate mortgage payments,
 and apply online for a mortgage.

 This press release may contain forward-looking statements that involve risks
 and uncertainties that could cause actual results to differ materially  from
 the statements contained herein. Such  risks and uncertainties include,  but
 are not limited  to, changes in  the performance of  the financial  markets,
 changes in the demand for and  market acceptance of the Company's  products,
 changes in  the mortgage  lending industry  or changes  in general  economic
 conditions, including interest rates, the impact of competition, changes  in
 the value of real  estate, the ability to  maintain and increase sources  of
 funding, and other risks  disclosed from time to  time in the Company's  SEC
 reports and filings.