Flagship's Partners model allows mortgage brokers to grow and build their own business and do what they are good at -- sell. We give ongoing support with a highly trained team who is at their disposal to solve problems. We help them obtain state licensing, ensure quality control, provide human resource/payroll, and assist with proven marketing programs
Lehi, UT (PRWEB) January 20, 2009
Flagship Financial Services (FFG), a turn-key solution for mortgage brokers who want to own their own mortgage branch, announced today that it roll out an FHA Streamline best practices sharing program.
The program provides marketing pieces, mailing lists, and scripts for FFG Branches. Each shows mortgage brokers how to capitalize on the surging market share of FHA home loans and FHA Streamline refinances. FFG branches can now access tested and proven direct mail pieces, scrubbed mailing lists, and scripting that has helped new branches achieve conversion rates in excess of 20%.
"We have found that despite the lowest interest rates in 40 years many mortgage branches are struggling to make money commensurate with market opportunities. Due to changes in originating, processing, and underwriting conventional loans, many mortgage brokers are struggling to get a steady pipeline of funded loans, said Will Farrar founder and owner of Flagship Financial Group.
Mortgage brokers are turning to FHA loans. With a credit crunch, conventional home loans are more difficult to get funded. "We have heard repeatedly that getting conventional loans funded is increasingly difficult and frustrating for mortgage brokers and their loan officers. Even when the guidelines are strictly followed. Our goal for our existing branches and for branches who join Flagship Financial Group is to show mortgage brokers how to make money with the licensing, marketing, and customer acquisition techniques we already have in place. We already know they are working," said Farrar.
FHA loans are enjoying a big resurgence in popularity and are rapidly gaining an unexpectedly large share of the mortgage market. A year ago, the FHA controlled 4 percent of the PMI market with less than 300,000 loan guarantees. Today FHA loan guarantees account for more than 800,000 transactions per year, or about 15 percent of the market. This trend of FHA controlled loans is expected to continue.
"We invite our existing branches and anyone who would like to join our company to gain immediate access to our marketing and our proven techniques to making money on FHA Streamlines. We have the system we just need more branches to plug into it," said Farrar.
The Department of Housing and Urban Development and the FHA have insured more than 34 million home mortgages and since 1934. Currently, the FHA currently holds about five million mortgages.
"Five million mortgages is a large, captive audience to take the Streamline message to. Being able to do that quickly, accurately, and without license restrictions is difficult for most mortgage brokers. Conventional financing has become a nightmare and is increasingly difficult to rely on," said Farrar.
Farrar describes how Flagship helps mortgage brokers streamline their business. "Flagship's Partners model allows mortgage brokers to grow and build their own business and do what they are good at -- sell. We give ongoing support with a highly trained team who is at their disposal to solve problems. We help them obtain state licensing, ensure quality control, provide human resource/payroll, and assist with proven marketing programs," said Farrar.
About Flagship Financial Group
With over 25 years combined experience in the mortgage industry, Flagship Financial Group and its Partners Division provide a turn-key solution for mortgage brokers. Flagship supports over 50 branches in 38 states nationwide to enable brokers to own and operate a successful mortgage business across multiple markets. Based in Utah, Flagship was recently awarded the 2008 Best of Salt Lake City Award by the U.S. Local Business Association (USLBA) in the Mortgages category. Flagship Financial Partners are members of the Mortgage Brokers Association.