CFI Mortgage, Inc. Announced Today the Filing of Its Year 2000 Form 10K With the Securities and Exchange Commission Showing the Second Consecutive Quarter of Profitability.

Business Editors

CLEARWATER, Fla.--(BUSINESS WIRE)--April 16, 2001

CFI Mortgage, Inc. (OTCBB:CFIM) announced today that it has filed its Form10K for the year 2000 with the Securities and Exchange Commission showing the second consecutive quarter of profitability.

The Company reported net income of approximately $68,000 for the quarter ended December 31, 2000. This is the second consecutive quarter of profitability in more than two and one-half years. For the year ended December 31, 1999, the Company had a negative Shareholder's Equity of approximately $7.7 million. For the year ended December 31, 2000, we have completely turned that around, and currently we have Shareholder Equity in excess of $2 million. As a further sign of the turnaround of CFI, the Company has reduced their working capital deficit from $2,442,858 at December 31, 1999, to a deficit of $1,066,324 at December 31, 2000, a reduction of $1.376,534. For the year ended December 31, 2000, the Company reported Earnings Per Share of $0.17, compared to a loss per share of $0.04 for the year ended December 31, 1999.

Stephen E. Williams, Chairman, President and CEO of CFI stated: "Although the majority of our Earnings Per Share figure is from the forgiveness of debt, the increase in revenues from $21,228 in 1999 to $2,561,922 in 2000, shows that we have successfully turned our Company around. Not only have we become a viable entity in terms of productivity from operations, we have also successfully restructured our balance sheet to a point where we can attract additional mortgage warehouse and credit lines that will allow us to grow our business."

As a result of the loss of its credit facilities in November 1998, the Company discontinued its mortgage banking operations. The Company did not have any operations during the year ended December 31, 1999 and revenues were limited to $21,228. Revenues for the year ended December 31, 2000 are attributed to both the Company's increased development and marketing of its computer software business through its subsidiary, Surfside Software, and the beginning of its wholesale mortgage lending business through its subsidiary, First United MortgageBanc, Inc. in the third quarter of that year, resulting in a dramatic increase in revenues to $2,561,922 compared to $21,228 in 1999.

CFI provides mortgage services through a large network of mortgage brokers and financial professionals. CFI's goal, through acquisition and internal growth, is to be a diversified leader creating custom software that provides technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage industry. For more information on CFI please visit the Company web site at www.cfiinc.com or that of Responsive Research at www.responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor updates and market letters, which will keep you apprised of all late breaking CFI news.

This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.