Marketing and Loan Origination Expansion
A large financial institution who was involved in manufactured housing finance in their home state was interested in expanding their lending initially in the midwest and then into the southeast. To do that on their own would require a significant investment in personnel as well as physical office locations with no assurance of their success. To be successful, the individuals needed to be knowledgeable of their respective geographic areas, be respected by the retail sales operations and have a reputation for honesty and fair dealings.
Finmark was approached with the opportunity to open those markets on an exclusive basis. The condition was that the compensation would be primarily commission based. Finmark had established a reputation in the market as having knowledgeable staff and an ability to get the job done. Finmark agreed to the financial arrangements and the opportunity to generate conventional, FHA and VA manufactured housing business. Finmark was confident in its ability to accept the risk and proceeded with a complete marketing plan in 5 initial states. Finmark was so successful in its efforts that the marketing opportunity was expanded to 15 total states.
The financial institution added substantial profits to their bottom line with over $300 million in loan volume and an additional $5 million per year in insurance premium. Finmark successfully achieved the loan volume, expanded their client base and minimized the financial risk for the lending institution. The relationship lasted over eight years!
Finmark was approached with the opportunity to open those markets on an exclusive basis. The condition was that the compensation would be primarily commission based. Finmark had established a reputation in the market as having knowledgeable staff and an ability to get the job done. Finmark agreed to the financial arrangements and the opportunity to generate conventional, FHA and VA manufactured housing business. Finmark was confident in its ability to accept the risk and proceeded with a complete marketing plan in 5 initial states. Finmark was so successful in its efforts that the marketing opportunity was expanded to 15 total states.
The financial institution added substantial profits to their bottom line with over $300 million in loan volume and an additional $5 million per year in insurance premium. Finmark successfully achieved the loan volume, expanded their client base and minimized the financial risk for the lending institution. The relationship lasted over eight years!