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LOMAS FINANCIAL CORPORATION CONSUMMATES PLAN OF REORGANIZATION

 LOMAS FINANCIAL CORPORATION CONSUMMATES PLAN OF REORGANIZATION
 DALLAS, Jan. 31 /PRNewswire/ -- Lomas Financial Corporation (NYSE: LFC) announced today the consummation of its plan of reorganization, which, as previously announced, was confirmed Dec. 30, 1991, by the United States Bankruptcy Court for the Southern District of New York.
 With consummation, Lomas has completed the final step in its 28-month reorganization process.
 Commenting on the consummation, Jess Hay, chairman and chief executive officer, said, "Lomas emerges from Chapter 11 as a company sharply focused on its core business, which since 1965 has been mortgage banking. The company's mortgage banking operations, which are conducted through Lomas Mortgage USA, today feature a $28.5 billion primary servicing portfolio, a $7 billion master servicing portfolio, an $800 million subservicing portfolio, extensive insurance agency and field services operations, investment advisory services, and a correspondent production system which draws mortgage product from hundreds of originators.
 "The company's continuing operations also include the activities of Lomas Information Systems, a wholly-owned subsidiary which provides a broad array of products designed to serve the management information systems and data processing needs of the mortgage finance industry."
 This past year, LIS introduced a new and innovative mortgage loan servicing system which is believed to be the most technologically and functionally advanced system available today.
 Hay cited the employees of Lomas, Lomas' professional advisors, the Creditors' and Equityholders' Committees, as well as their professional advisors, all of whom, he said were "owed a debt of gratitude." Hay also lauded Judge Burton Lifland "for his judicially responsible, fair and decisive administration of our Chapter 11 proceedings."
 -0- 1/31/92
 /CONTACT: Tricia Zimmerman of Lomas Financial Corporation, 214-879-5542.
 (LFC) CO: Lomas Financial Corporation ST: Texas IN: FIN SU: RCN


PS -- NY042 -- 5647 01/31/92 13:13 EST
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Date:Jan 31, 1992
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