The company’s goal is to raise capital in order to increase the company’s net worth to meet future HUD requirements and to become direct sellers to agencies such as Fannie Mae, Freddie Mac, and Ginnie Mae.
The purpose of this business plan is to raise a minimum of $1,000,000 to $2,000,000 for the further development of an already established and successful mortgage banking firm. This investment amount will be held in a CD and interest will be paid by the company on top of the bank interest from the CD. In addition to this investment of net capital, the Company is open to offering various levels of equity in the Company.
The company is an Arizona based corporation that provides residential lending products to customers in its targeted markets. The company was founded in 2003 as a broker licensed in Arizona. Today, the company is a mortgage banker employing over 120 employees and produced over $162,000,000 million in annual production in 2009. The Company maintains physical branches in Arizona, New Mexico, Texas, and Alabama. The company is licensed in AZ, CA, CO, UT, TX, NM, AL, TN, ID, and HI.
The primary revenue stream for the company comes from the closing of loans for residential properties. The company uses its warehouse lines of credit in order to fund these loans, which are immediately resold to secondary investors. The company earns fees from both the sale of the loan and fees charged to borrowers. The company’s secondary income stream comes from the interest generated on held loans until they are sold to the secondary market.
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