Economy & Finance

Vantage Recruiting

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1. A Loss mitigation company 2. <ul><li>Chairman/CEO </li></ul><ul><ul><li>Steven M. Charles…
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  • 1. A Loss mitigation company
  • 2. <ul><li>Chairman/CEO </li></ul><ul><ul><li>Steven M. Charles </li></ul></ul><ul><li>President/COO </li></ul><ul><ul><li>Susan M. Lewis </li></ul></ul><ul><li>Website </li></ul><ul><ul><li>www.vantagefs.com </li></ul></ul>
  • 3. General company description cont. <ul><li>Company History: MCG Acquisitions has been in business since December 2005, doing mortgage origination and light loss mitigation services. The company was acquired by Vantage Financial Services Inc. (VFSI) in 2008. The acquisition allows for us to be able to represent our services on a larger scale. </li></ul><ul><li>VFSI’s most important strengths and core competencies include the extensive knowledge and experience of the principals as well as the loyal and committed staff that has caught the vision of the principals. VFSI has formed a team that has been recruited to carry out the task of developing this hybrid program. They not only are forging this path in unchartered territory but are also tending to the business on a daily basis with unwavering resolve. </li></ul>
  • 4. The market and opportunity There is an estimated $14 trillion of residential and commercial mortgage debt in the United States, and delinquencies and defaults are rising rapidly. There area approximately 75 million homeowners in the U.S. At the end of June 2008, more than 4 million homeowners were at least one month behind on their mortgage payments. In all, 635,159 foreclosure filings were reported in the third quarter, up 99.5% from the year-ago quarter. Statistics show that more than 50% of homeowners in default never contact their servicer for fear of humiliation and losing their home. According to Moody’s Economy.com, this trend is expected to accelerate and increase significantly as approximately one out of every five homeowners in the U.S. with a mortgage owe more on their loans than their homes are worth. It is estimated that by 2010, 19 million homeowners will have mortgages greater than the value of their homes.
  • 5. <ul><li>We currently have active vendor contracts with the following companies: </li></ul><ul><li>Stewart Lender Services </li></ul><ul><li>Fidelity Financial Service </li></ul><ul><li>First American </li></ul><ul><li>Multiple National Realtors and Mortgage Bankers </li></ul><ul><li>We are looking to have over 1,000 Realtor/Broker relationships after Q1 </li></ul><ul><li>Currently we have over 250 relationships in 6 weeks as a sales force </li></ul><ul><li>Our top AE has been here less than 2 months and has 42 distinct accounts </li></ul><ul><li>Our top account today has the ability to submit 4000 referrals for per month </li></ul>Who we work with today….
  • 6. Distribution channels
  • 7. What is a Note Modification, Short Sale, and Short Refinance? This is what we sell. <ul><li>Note Modification </li></ul><ul><li>A permanent change in one or more of the terms of the loan. This is done in response to </li></ul><ul><li>the borrower’s inability to make payment under the original loan contract. </li></ul><ul><li>Short Sale </li></ul><ul><li>A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many </li></ul><ul><li>Lenders agree to accept proceeds of a short sale and forgive the rest of what is owed on a mortgage when </li></ul><ul><li>the owner cannot pay. </li></ul><ul><li>Short Refinance </li></ul><ul><li>The refinancing of a mortgage by a lender for a borrower currently in default on his or her payments. </li></ul><ul><li>This is done to avoid foreclosure. Typically, the new loan amount is less than </li></ul><ul><li>existing outstanding loan amount and the difference is typically forgiven by the lender. A lender might do </li></ul><ul><li>this because it is more cost effective than foreclosure proceedings. </li></ul>
  • 8. The VQP Program <ul><li>(Vantage Quality Partnership) is a monetary incentive program directed at the mortgage bankers/brokers and any business affiliate that refers us a note modification. </li></ul><ul><li>Any entity that refers a note modification client that is fully invoiced will receive between $100.00 and $150.00 depending on volume. </li></ul><ul><li>We are the low cost provider for note modification and our $795.00 fee allows us to collect for our services without </li></ul><ul><li>Hand delivered checks to the mortgage broker from the account executive </li></ul><ul><li>Real-time reporting for our clients from a corporate level all the way down to the individual </li></ul>
  • 9. Development and growth strategy <ul><li>VFSI strategies for achieving profitable growth include the following: </li></ul><ul><li>Expand our current sales force on a national level </li></ul><ul><li>Leverage our Market Leading Technology(CAMZ and MOTZ) </li></ul><ul><li>Maximize our Cross-Selling Opportunities(Indirect to Direct) </li></ul><ul><li>Take Advantage of Increased Outsourcing by our Customers </li></ul><ul><li>Broaden our Portfolio of Services and Market Opportunities through Strategic Acquisitions </li></ul>
  • 10. Economic model <ul><li>VFSI is positioning itself for business and financial success in the default services industry. The following charts will indicate the proposed revenue for 2009 through 2013. This 5-year look will show the immense earning potential that we have and are committed too. </li></ul><ul><li>The volume used to depict the revenue and expenses was 20,000 files with a substantial volume increase annually. The remaining assumptions are based on VSFI achieving multiple loss mitigation opportunities per file. </li></ul>
  • 11. Economic model cont. Income Budgeted 2009 2010 2011 2012 2013 Loss Mitigation ANNUAL Total $19,648,500 $36,324,721 $38,504,204 $40,814,457 $43,263,324 Default Servicing Fees ANNUAL Total $4,651,291 $10,230,369 $10,844,191 $11,494,842 $12,184,533 Property Preservation ANNUAL Total $479,844 $508,634 $539,152 $571,501 $605,791 Document Signing Services Income ANNUAL Total $612,164 $648,894 $687,828 $729,097 $722,843 TOTAL INCOME $25,391,799 $47,712,618 $50,575,375 $53,609,897 $56,826,491
  • 12. AE Compensation <ul><li>INDIRECT </li></ul><ul><li>Up to $25,000.00 in Total Fee Revenue 25% </li></ul><ul><li>$25,000.00 and Above in Total Fee Revenue 35% </li></ul><ul><li>DIRECT </li></ul><ul><li>Up to $2,500,000.00 in Total Fee Revenue 7.5% </li></ul><ul><li>Over $2,500,000.00 in Total Fee Revenue 10.0% </li></ul><ul><li>Expense Account is a Tier to $750.00 </li></ul><ul><li>Bonuses and Stock Options will be granted based on volume </li></ul>
  • 13. Lets Talk Money! <ul><li>Indirect </li></ul><ul><li>Using a min. per sale dollar of $795.00 (Single Note Mod.) </li></ul><ul><li>AE” having 20 producing broker’s </li></ul><ul><li>Each broker avg. 2 referrals per month per broker </li></ul><ul><li>20 X 2 = 40 x $795.00 =$31,800 </li></ul><ul><li>$31,800 x 35% = $11,130.00 </li></ul><ul><li>Direct </li></ul><ul><li>1000 file campaign </li></ul><ul><li>$35.00 Boarding Fee </li></ul><ul><li>Modification Analysis workout </li></ul><ul><ul><li>@$175.0 each </li></ul></ul><ul><ul><li>1000 x $35 = $35,000 </li></ul></ul><ul><ul><li>1000 x $175 = $175,000 </li></ul></ul><ul><ul><li>$210,000 * x 7.5% = $25,750.00 </li></ul></ul><ul><ul><li>* This is an annually accumulating volume number </li></ul></ul>
  • 14. <ul><li>The big picture is: </li></ul><ul><li>AE ramp up to 15+ active accounts </li></ul><ul><li>Each account producing 5+ Note Modifications Per month </li></ul><ul><li>This example would be an AE in months 3-6. </li></ul><ul><ul><ul><li>15 X 5 = 75 X $795.00 = $59,625.00 Gross Revenue </li></ul></ul></ul><ul><ul><ul><li>59,625.00 X 35% = $20,868.75 a month. </li></ul></ul></ul><ul><ul><ul><li>Combo Note Modifications at $995 or Short Sales </li></ul></ul></ul><ul><ul><ul><li>that are $295.00 plus 1% of the negotiated sales price. </li></ul></ul></ul><ul><ul><ul><li>10 MOD-2 x $995= $9,995 x 35% = $3482.00 </li></ul></ul></ul><ul><ul><ul><li>Average sales Price $250,000 x 1% = $2500 x 10 short sales = </li></ul></ul></ul><ul><ul><ul><li>$25,000 x 35% = $8750.00 </li></ul></ul></ul><ul><ul><ul><li>SEE NEXT SLIDE </li></ul></ul></ul>
  • 15. $20,868.75 + $3482.00 +$8750.00 $33,100.75 +$25,750.00 Indirect Compensation Direct Compensation $58,850.75 one month compensation
  • 16. This concludes the presentation and the floor is open to any questions and or comments!
  • 17. Contact: Connor McNulty, Mid Atlantic RVP – [email_address] or 757-618-3858 John Mauk, North East RVP- [email_address] or 571-289-1010 Shaun Patrickus, [email_address] 847-830-3190 [email_address]
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