Earlier this morning, Loans4Less.com provided certain preliminary financial results for the year ended December 31, 2012. Revenues for the year are expected to increase by approximately 61% compared to the prior year. Annual Net Ordinary Income is 41% greater compared to 2011. An improvement of $58K in the balance sheet is also anticipated with $98K in revolving debt paid off from free cash flow.
According to today’s press release, the complete 2012 annual report and financial results will be posted in due course. E&OE.
Loans4Less.com projects the mortgage origination market will stay very active this year even though lender underwriting standards are allowing only best credit quality borrowers to close on their loans. The current mortgage market mainly consists of Fannie Mae/Freddie Mac Conforming fixed rate loans for refinancings.
“Purchase activity is gaining traction with mortgage rates near record lows,” Steven M. Hershman, Chairman & President, commented. “Loans4Less.com sees highly favorable market conditions as a catalyst for ongoing significant improvement in our business growth and future expansion.”
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