CFI Mortgage, Inc. Subsidiary Continues to Augment Both the Marketing and Loan Processing Departments.

Business Editors

CLEARWATER, Fla.--(BUSINESS WIRE)--July 13, 2001

CFI Mortgage, Inc. (OTCBB:CFIM) announced today that its subsidiary First United MortgageBanc, Inc. (FUMB), has added a highly qualified underwriter to its loan processing department and two proven producers to its growing staff of account representatives.

Theresa Russell-Coley, who will be in charge of subprime underwriting, brings over 6 years of processing, managerial and underwriting experience to FUMB. Theresa was an underwriter of Alliance Funding in St. Petersburg and an office manager for Alternative Lending Mortgage of Clearwater, Florida.

James Mathews will be working with Midwest Regional Account Manager, Rhonda Curtis, to expand the business in Michigan and Ohio. Jim is a proven producer who averaged in excess of 15 units per month in the later part of 2000.

Robin Katz has over 15 years experience in providing services to both wholesale and retail clients including 10 years was an Executive Branch Manager for Transamerica Financial Corporation (NYSE:TFD) in Clearwater. Robin will be the lead representative in California.

Robert Scarpetta, President of FUMB, said, "The Company is truly expanding nationwide. I am delighted to see the quality people that FUMB has attracted in such a short period of time. I'm confident Theresa will do a fine job as manager of our Subprime Underwriting Department and Jim and Robin will help us increase our volume production under the direction of Ken Reilly, National Sales Manager."

"The bilateral growth at FUMB proves that Bob Scarpetta is the right person to implement our business model. As the production increases and the loan processing department becomes capable of handling additional business, we will entertain joint ventures and acquisitions to help accelerate the growth of FUMB," stated Stephen E. Williams, Chairman, President and CEO of CFI.

CFI provides mortgage services through a large network of mortgage brokers and financial professionals. The 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 CFIM please visit the Company web site at http://www.cfiinc.com or that of Responsive Research at http://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 CFIM 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.