Mortgage Company
Location California,United States
Asking Price Range $2.5M - $5.0M
Gross Revenues $10000000
Net Profit / Cash Flow $800000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2001
Number of Employees 1 - 3
Inventory 20000
Relocatable No
Number of Employees 1 - 3
Real Estate Leased
Training Seller will train.
Reason for Sale Other ventures.
Description This company offers an innovative and proven system to generate
revenues in the mortgage business. With well over 100 loan officers and over 50 branch operations, with operation in 45 states, the new owner does not have to be a broker or be real estate licensed. Revenues have continued to increase since the company's beginning. This unique business model is somewhat recession proof and market fluctuations and interest rates do not substantially affect their business in the same way traditional mortgage companies are affected.
This business offers broker and correspondent lending programs with thousands of different mortgage programs for all kinds of clienteles from sub-prime to A paper. Essentially the company can do anything, anywhere. They do mainly residential mortgages, but in some instances they offer commercial lending as well as real estate transactions.
The owner says the new owner could learn the system easily, continue growing the business, and relocate the business to another area if he/she desires. Mortgage experience is preferred but not essential. As an added benefit, this business system appears to have very substantial tax benefits incorporated into their model.
The average number of loan originations are at least 100 loans per month with an average of $600 per loan to the company. They also have in house escrow and processing which are added profit centers for the company.
The staff consists of 7 individuals which includes three processors, one escrow officer, one receptionist, and one executive administrative assistant.
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