Our business objective is to maximize the efficiencies of the many participants to the mortgage loan process and then extend our services to related businesses.
To meet our objective we intend to create, or acquire, a number of subsidiary companies, each operating semi-autonomously, but integrated in one seamless communication system.
We currently have subsidiary companies that assist the loan originator at the start of the loan process and processes the loan application to the satisfaction of the chosen lender. We intend to add services related to the mortgage service starting with financial planning and insurance products. We want to provide "Complete Financial Service" to our customers so that they do not need to seek other service providers, and we expect a high customer retention rate.
Briefly mentioned earlier was mortgage broker (loan originator) licensing. Another cumbersome issue to the originator of mortgage loans lies in the fact that a company must acquire a broker's license from each state that it originates loans in, plus, in most states the individual agent for the licensed company must also acquire a separate agent's license. This involves the purchase of bonds for each state, the number of which is limited by financial strength of the company, annual audits and the cost of annual maintenance of each.
To address the licensing issues the company intends to acquire an existing, or start-up a, federal charter bank. Such federal charter bank eliminates the state licensing issues for both the company and its employee loan originators. Additionally, there is only one regulatory set of rules to follow and one annual audit with a federal charter bank. We have some unique ideas of ways to serve mid sized communities' financial needs that will allow us benefits additional to the licensing issue.
We also intend to acquire or start businesses providing legal, accounting, financial planning, credit restoration and insurance services to the general population. These services are all integrated to some degree with the mortgage loan industry and with each other. For instance, financial planners often utilize insurance products in their client's financial portfolio and often the funds for such insurance products are sourced from a mortgage on the client's house or investment properties. To acquire beneficial rates on mortgage loans often requires helping a client increase his/her credit score which in turn can require legal and accounting advice or services. By providing all the above mentioned services we are better able to retain the customer as he never has to access the services elsewhere and we are able to collect multiple fees from the same core customers.
This document contains many forward looking vision ideas that may, or may not, come to fruition and a reader cannot, and should not, make an investment decision based on it.