Advanced Financial announces mortgage origination results for June, 1995.

SHAWNEE, Kan.--(BUSINESS WIRE)--July 5, 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 June 30, 1995, the mortgage pipeline total stood at $22 million, a 230% increase vs. $6.6 million at Dec. 31, 1994.

The pipeline total was buoyed by record June new loan applications of $15.2 million, a positive trend in comparison to May totals of $12.3 million. New loan applications for the quarter ended June 30, 1995, totaled $39.1 million compared to $24 million for the quarter ended March 31, 1995.

At June 30, 1995, the locked pipeline of approved mortgage applications with a guaranteed interest rate stood at $9.6 million, a 228% increase vs. the Dec. 31, 1994, 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.

Loan closings for the month of June totaled $9 million compared to April closings of $7.1 million. This also compares to June 1994 of $1.3 million. Loan closings for the quarter ended June 30, 1995, totaled $21.2 million compared to $8.2 million for the quarter ended March 31, 1995 and $7 million for the same period a year ago.

Brad Morris, president of the AFI Mortgage Corp. subsidiary of AFI, commented: "We are very pleased with the production results for the first quarter of fiscal 1996 and believe that these indicators bode well for our loan origination volume for fiscal 1996. The trend in mortgage application volume from our Desktop Loan Origination terminal network is growing every week. The current downward trend in long-term interest rates, should this trend continue, should also have a positive impact on our loan originations."

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 vs. 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 Corp. (FHLMC), Government National Mortgage Association (GNMA) and private investors in secondary mortgage markets.

CONTACT: Advanced Financial Inc., Shawnee

Brad Morris, 913/441-1160