| Online Mortgage Marketing That Works
Valuable Mortgage's sales strategy consists of four focused sales efforts. The first is to create an Internet portal site, which will be the environment that all Valuable Mortgage affiliates utilize. For this sales effort, Valuable Mortgage will promote the portal as the "meeting place" for all affiliates in the mortgage processing industry. The second is to be an outsourced processing center. Valuable Mortgage will provide different levels of outsourced processing capability, which supports the company's focus of helping affiliates to address the mortgage process more effectively. The third is to provide extranet connectivity, tying in the affiliates' computer systems into the Valuable Mortgage system, thereby facilitating the management of the communications process. The fourth is to provide management of the document workflow process, thereby assuring the Valuable Mortgage's focus on making the process more effective. In total, this sales strategy is called POEM, for Portal, Outsourced, Extranet, and Management.
Products & Services
Primarily the company will offer three levels of membership, each providing an incremental benefit over the other. These membership levels will be called Silver, Gold, and Platinum.
Silver Level Membership will offer basic access to Valuable Mortgage's website and basic tools, including automated online forms that are designed to eliminate errors and double entry of data. At the Silver level, individuals and organizations would utilize the Valuable Mortgage system on their own, running it as if it were installed on their local desktop computers. At this level, Valuable Mortgage staff will assist with some entry of data and cross checking of information, and will offer some guidance in the actual processing itself.
Gold Level Membership includes everything that Gold Level Membership does, plus total data checking and process management from Valuable Mortgage. For these members, Valuable Mortgage will closely monitor the process itself making certain that all key respondents take action within specified time limits. Should this communication not occur, Valuable Mortgage would contact the respondent, assess the situation, and facilitate the process itself. In this way, the successful outcome can be guaranteed.
Platinum level membership will offer full outsourced processing. All the mortgage broker would have to do is to prequalify the client and at most take an occasional loan application. The company would do the rest, from processing the application to stepping it through all necessary tasks to completion. At each step Valuable Mortgage would proactively provide detailed information to the mortgage broker and all other participating partners so that they are fully aware of the process that is occurring, however Valuable Mortgage would assume all responsibility for actual execution.
Revenue Streams
The following is a list of front–end and back–end revenue streams that Valuable Mortgage intends to pursue. For detail on these revenue streams, please see the Sales Plan later in this document.
Monthly Membership Dues
Affiliate Transaction Fees
Private Label Lending
Data Mining/Knowledge Management
Lead Generation Program
Classroom/Computer Based Training
Communications Fees
Licensing Programs
Insurance
Printing
Mortgage Broker/Realtor Recruiting
ISP Partnerships
Computer and Accessory Sales
Product/Services Sales
Click–Through Incremental Revenue
Sponsorships/Co–Branding
Membership Program Benefits
Market Analysis
The company intends to utilize focus groups, marketing handouts and intensive market research into the successes and failures of our competition, to prove its market viability prior to implementation. A series of pilot programs will be implemented so that actual mortgage brokers, real estate agents, investors, and escrow companies can utilize Valuable Mortgage services and provide critical feedback into the development process. The anticipated result will be a system that works effectively for all parties concerned. Additionally, Valuable Mortgage is already developing unique technologies that will allow the company to successfully tie their technology into the host of systems in use by the various industries the company will support.
Competition
There is a lot of competition in the market niche that Valuable Mortgage intends to focus. Existing software companies with mortgage processing applications make up the largest number of direct competitors to Valuable Mortgage, and a small number of technology companies make up the rest.
The primary difference between what these companies intend to offer and what Valuable Mortgage intends to offer is in the capabilities of the software solutions. Most of these companies already have software applications, which feature specific types of solutions for specific industries. One of the larger companies, Wilshire Corporation, has a two–tier package called ElectroniK and Softex. These applications are designed for the mortgage processor, and primarily function as the tool that these organizations would use to execute their business, tracking all the necessary steps in the mortgage loan process. Wilshire intends to take this package onto the web, allowing other organizations to utilize it without having to install it locally, which is similar to what Valuable Mortgage intends to do.
The primary difference between Valuable Mortgage and its competition is that Valuable Mortgage is intending to build an online 'community' with the specific intent of building that community into an application for the mortgage processing industry. The companys competitors, like Wilshire Corporation, are attempting to do the opposite, taking an application and attempting to build that application into a community.
The company's approach is far superior to its competitor's approach. The reason is because it is next to impossible to take an existing application and web–enable it enough that it becomes a standard unto itself. The better approach is to foster an environment which best suits the needs of a particular niche, and then build an application which meets those needs. This is why Valuable Mortgage will be successful and its competition will not.
Business Strategy
The company's business model focuses on a unique strategy called Task–Trigger–Task. There are two primary components to the company's approach, the technical infrastructure that the company will utilize and the methodology, which is the core to the environment that will be created. Both of these components utilize the Task–Trigger–Task business model.
The technical infrastructure consists primarily of the web–based environment. In this environment, customers will utilize a system that is made up of tasks, which occur in the mortgage loan process. These tasks often occur concurrently, and in many cases specific tasks must be completed before other tasks can start. The relationship of these predecessors and successors is defined by the Task–Trigger–Task business model. The technology that Valuable Mortgage intends to develop with automatically monitor this process, and manage to a successful conclusion the pre–defined relationships of which tasks trigger which tasks.
As a methodology, the Task–Trigger–Task business model will drive the customer–oriented approach for the company. The technology will identify which tasks have or have not been concluded. The operational management team will closely monitor the results and will escalate any tasks or triggers that are not concluded within a preset timeframe. This is the key differentiation between Valuable Mortgage and its competitors. No other company has built a business model that so effectively ties the operations of the company to its infrastructure
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