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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FkCCplIeVWerXCXKMBJ40mZ4WdolpRE/wt6tfJgr+/qQqVDxr+JkTSoRV8KylteO
 kEGvnIua5peEhNCtCZgIog==

<SEC-DOCUMENT>0001181431-03-030168.txt : 20031112
<SEC-HEADER>0001181431-03-030168.hdr.sgml : 20031111
<ACCEPTANCE-DATETIME>20031112065759
ACCESSION NUMBER:		0001181431-03-030168
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20031112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GRILL LAWRENCE
		CENTRAL INDEX KEY:			0001267340

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24051
		FILM NUMBER:		03990374

	MAIL ADDRESS:	
		STREET 1:		VISTA PALOMINO
		CITY:			LA QUINTA
		STATE:			CA
		ZIP:			92253

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNITED PAN AM FINANCIAL CORP
		CENTRAL INDEX KEY:			0001049231
		STANDARD INDUSTRIAL CLASSIFICATION:	MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162]
		IRS NUMBER:				943211687
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3990 WESTERLY PLACE
		STREET 2:		SUITE 200
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
		BUSINESS PHONE:		9492241917

	MAIL ADDRESS:	
		STREET 1:		3990 WESTERLY PLACE
		STREET 2:		SUITE 200
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>rrd22395.xml
<DESCRIPTION>FORM 5
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType><periodOfReport>2003-12-31</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001049231</issuerCik>
        <issuerName>UNITED PAN AM FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>UPFC</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001267340</rptOwnerCik>
            <rptOwnerName>GRILL LAWRENCE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3990 WESTERLY PLACE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92660</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>Employee Stock Option (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>6.64</value></conversionOrExercisePrice><transactionDate><value>2002-07-23</value></transactionDate><transactionCoding><transactionFormType>5</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>10000</value><footnoteId id="F1"/></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2003-07-23</value></exerciseDate><expirationDate><value>2009-07-23</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock<
/value></underlyingSecurityTitle><underlyingSecurityShares><value>10000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>10000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Options granted under the UPFC Amended and Restated 1997 Employee Stock Incentive Plan.</footnote></footnotes><ownerSignature><signatureName>/s/ Lawrence Grill</signatureName><signatureDate>2003-11-12</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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