Advanced Financial announces mortgage origination results for July 1995.

SHAWNEE, Kan.--(BUSINESS WIRE)--Aug. 10, 1995--Advanced Financial Inc. (AMEX:AVF) reported a significant increase in its key indicator of future loan origination activity, namely its pipeline of mortgage applications in process.

For the month ended July 31, 1995, the mortgage pipeline total stood at $26 million, a 294% increase vs. $6.6 million at Jan. 1, 1995. The pipeline total was buoyed by new loan applications of $11.7 million, in comparison to June totals of $15.2 million. July's applications were down slightly due to July historically being a slower month for real estate sales, and a moderate increase in mortgage interest rates during the month.

At July 31, 1995, the locked pipeline of approved mortgage applications with a guaranteed interest rate stood at $6.4 million, a 128% increase versus the January 1, 1995 locked pipeline. The locked pipeline is an indicator of expected near-term mortgage loan closings during the remainder of the interest rate guarantee period, usually 30 to 45 days. The locked pipeline also decreased in July from $9.6 million in June. This was due to the increase in rates during July and borrowers waiting to lock their rate until closer to the loan closing date.

Loan closings for the month of July totaled $8.3 million compared to June closings $9 million. This also compares to closings in Juy 1994 of $864,000.

Brad Morris, president of the AFI Mortgage Corp. subsidiary of AFI, commented, "Although loan production was down for July, we are still pleased with the results and believe that August originations will continue to show increased trends in mortgage application volume from our Desktop Loan Origination terminal network."

Over the past few years, AFIM has invested in a state-of-the-art computer system at the 20,000 square foot headquarters facility and believes that it is at the forefront of industry automation trends. The goal of AFIM's investment in computer systems technology is the creation of a cost advantage versus industry peers in both mortgage origination and loan servicing operations.

Advanced Financial Inc. (AFI) is an American Stock Exchange listed holding company with its principal operations conducted through the wholly owned AFI Mortgage Corp. (AFIM) subsidiary. AFIM is a full service residential mortgage banking company originating and servicing single family first and second mortgage loans.

AFIM has all approvals necessary to service mortgages for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC), Government National Mortgage Association (GNMA) and private investors in secondary mortgage markets.

CONTACT: Advanced Financial Inc., Shawnee

Brad Morris, 913/441-1160