Sample Mortgage Business Plan Templates
While our entire system - for mortgage lender, banker, correspondent or broker - is designed to be what we call a "franchise level business plan" with complete operating details, often a regulator or investor will require a more traditional business plan, which we refer to as a business goal development and management plan. This normally involves describing the company's objectives, ways and means for achieving those goals.
Elements of Business Goal Development Plan
The process of developing a business plan results in a more important outcome than the document itself. You have to think through, logically, how you will achieve your goals. For instance you might say "we want to double our volume from $200MM in production to $400MM," which is a laudable goal, but without understanding how you would do that, a rather pointless statement. However, if you use our built in spreadsheet, you can see that, by adding additional loan officers, who will each add 3-4 units a month, how you might progress towards that goal.
The components of the plan must address
Marketing Plan
Market Analysis
Product Types
Volume Projections
Staffing
Sources and uses of Funding
Loan Origination System
The components of the plan must address
Marketing Plan
Market Analysis
Product Types
Volume Projections
Staffing
Sources and uses of Funding
Loan Origination System
Mortgage Banker Business PlanA mortgage banker's business plan takes into consideration funding requirements, lending capacity and other funding based necessities.
|
Mortgage Broker/Correspondent Business PlanA mortgage broker business plan or non-delegated correspondent business plan focuses on origination strategies and initial funding.
|
Does a Regulator Really Want a "Business Plan"
We have seen certain regulators require business plans, in general. In this instance, this general business plan is an appropriate response to the regulator's request. In some cases, such as in North Carolina or Virginia, the regulator will request something VERY SPECIFIC in a business plan, such as the branch locations with its state, compensation plans or other element. In this case, rather than providing the regulator with the very detailed overall business plan, providing the answers to their questions in a written "business plan addendum" is a better strategy.