Advanced Financial announces mortgage pipeline reached $20 million at April 30, 1995.

SHAWNEE, Kan.--(BUSINESS WIRE)--May 4, 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 April 30, 1995, the mortgage pipeline total stood at $20 million, a 197% increase vs. $6.6 million at Dec. 31, 1994.

The pipeline total was buoyed by record April new loan applications of $11.6 million, a positive trend in comparison to January, February and March totals of $6.3 million, $7 million and $10.7 million, respectively.

At April 30, 1995, the locked pipeline of approved mortgage applications with a guaranteed interest rate stood at $7.4 million, a 165% 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 April totaled $5.1 million compared to January, February and March closing of $1.7 million, $2.6 million and $3.9 million, respectively. This also compares to April 1994 of $4.2 million.

Brad Morris, president of the AFI Mortgage Corp. subsidiary of AFI, commented: "We are very pleased with the trends established in early 1995 and believe that these indicators bode well for our loan origination volume for the coming fiscal 1996 year. The trend in mortgage application volume from our Desktop Loan Origination terminal network is growing every week."

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.

AFIM, previously named Continental Mortgage, was acquired in 1991 to take advantage of opportunities in the mortgage banking industry brought about by the decline in the savings and loan industry.

AFIM has built its revenues principally through the acquisition of servicing rights from sales conducted by the Resolution Trust Corp. (RTC).

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.

CONTACT: Advanced Financial Inc., Shawnee

Brad Morris, 913/441-1160