EXHIBIT 99.1


 FOR IMMEDIATE RELEASE:

         United Financial Mortgage Corp. Announces Definitive Agreement to
                          Acquire Plus Funding


   *  Company continues to expand its retail origination division

 Oak Brook, IL, Tuesday, December 14, 2004 -- United Financial Mortgage Corp.
 (Amex: UFM or the "Company") announced today that it has signed a definitive
 agreement to acquire Carlsbad, California based Plus Funding.  Terms were
 not disclosed.

 Plus Funding is a privately held retail originator of residential mortgage
 loans that acts as both a mortgage banker and broker.  Plus Funding, which
 has served the San Diego area since 2000, has 66 full-time employees and
 operates seven branches in southern California and one in Nevada.  Mr.
 Thomas Phanco and Mr. Phillip Ramsey, founders of Plus Funding, will remain
 with the Company after the consummation of the acquisition and will serve as
 President and Vice President, respectively, of the Plus Funding division of
 UFM.

 Steve Khoshabe, President and CEO of UFM, stated "I look forward to the
 completion of this acquisition.  We anticipate that we will improve Plus
 Funding's financial performance as a result of our secondary market
 execution, lower cost of warehouse financing, and the introduction of
 administrative synergies. The addition of Plus Funding will be our first
 retail presence in the state of California and will increase the total
 number of our retail branches to forty-seven"

 UFM anticipates that the acquisition will be non-dilutive and immediately
 accretive to UFM's earnings.  For the year ended December 31, 2003, Plus
 Funding originated $234 million in mortgage loans and had revenues of
 approximately $6.1 million.  Through the first eleven months of this year,
 Plus Funding has originated $275 million in mortgage loans.  Through the six
 months ended October 31, 2004, UFM had revenues of $33.8 million with
 earnings of $.31 per share.

 Mr. Tom Phanco, Chief Executive Officer of Plus Funding stated, "Being part
 of the United Financial Mortgage team will give our sales team the tools and
 financial foundation necessary to grow their business."

 On August 31, 2004 UFM announced the acquisition of Vision Mortgage Group,
 a privately held originator of residential mortgage loans that serves the
 Rockford (Rock River Valley) area.  In 2003, Vision Mortgage was one of the
 largest mortgage originators in the Rock River Valley.  For the year ended
 December 31, 2003, Vision Mortgage originated $148 million in mortgage
 loans.


 About United Financial Mortgage Corp.

 United Financial Mortgage Corp. is an independent originator and servicer of
 residential and commercial mortgage loans. The Company is headquartered in
 Oak Brook, Illinois and has 39 retail offices and 8 wholesale operations
 centers across 16 states.  For additional information, please visit the
 Company's web site at www.ufmc.com.

 This press release contains forward-looking statements within the meaning
 of such term in the Private Securities Litigation Reform Act of 1995
 with respect to the Company's business, financial condition, results of
 operations, plans, objectives and future performance.  Forward-looking
 statements, which may be based upon beliefs, expectations and assumptions
 of management and on information currently available to management, are
 generally identifiable by the use of words such as "believe," "expect,"
 "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could,"
 "should" or other similar expressions.  Additionally, all statements in this
 document, including forward-looking statements, speak only as of the date
 they are made, and the Company undertakes no obligation to update any
 statement in light of new information or future events.  A number of
 factors, many of which are beyond the ability of the Company to control or
 predict, could cause actual results to differ materially from those in its
 forward-looking statements, including, among others, changes in demand for
 mortgage loans, the Company's access to funding sources and the terms upon
 which it can obtain financing, assumptions underlying the value of the
 Company's retained mortgage loan-servicing rights, the impact of economic
 slowdowns or recessions, management's ability to manage the Company's growth
 and planned expansion, difficulties in integrating or operating newly
 acquired businesses, competition in the Company's market, changes in
 government regulations, the Company's ability to expand origination volume
 while reducing overhead, the impact of new legislation or court decisions
 restricting the activities of lenders or suppliers of credit in the
 Company's market, other risk factors disclosed from time to time in the
 Company's filings with the Securities and Exchange Commission and the
 inability of the Company to manage the risks associated with the foregoing
 as well as anticipated. These risks and uncertainties should be considered
 in evaluating forward-looking statements and undue reliance should not be
 placed on such statements. Additional information concerning the Company and
 its business, including additional factors that could materially affect the
 Company's financial results, is included in the Company's filings with the
 Securities and Exchange Commission.


 For Further Information Contact:

 Dave Gentry, Aurelius Consulting Group, Inc., Century Bank Building,
 541 S. Orlando Avenue, Suite 206, Maitland, FL 32751,
 (407) 644-4256, Fax: (407) 644-0758, dave@aurcg.com