Description of the business for sale
Business Description:
This Company originates mortgage and commercial loans. It also provides Title Insurance and is building a Real Estate business to complement its mortgage business. The company has grown aggressively since its formation expanding to multiple locations in the Denver, Colorado area. In anticipation of slower mortgage loan volume, the company diversified into Title Insurance and Commercial Loans in 2004 and began building a Real Estate business that should start contributing to profits in 2005.
The Company creates a strong brand and customer loyalty through their emphasis on customer service. This is reflected in their extensive and continuing education and training program that builds more qualified loan officers and also their outreach into Denver’s ethnic communities with native language loan officers.
The Company is a compelling business opportunity because of the much lower risk it has than similar mortgage companies. The lower risk comes through product and market diversification as well as the ethnic diversification. In addition, the Company has grown to the point where it has the economies of scale that come from high market share.
Markets served:
The target customers are working class homebuyers in the Denver market. The Company invests heavily in the education of its brokers and offers buyers a wide range of mortgage options and rapid execution. While mortgage volume was generally lower and many competitors were forced out of business, the Company was able to grow by 4% in 2004 because of its investment in training and commitment to customer service. Speed of execution, the ability to close difficult loans, and its marketing strength in the ethnic communities of Denver set this Company apart from other Denver area mortgage brokers.
Growth Strategy:
Growth in the future will come from continued geographic expansion and by establishing the lines of credit necessary to perform the mortgage banking role as well
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Description of the facilities
Furniture, fixtures, and equipment = 0
Furniture, fixtures, and equipment included: N
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