On April 30, MortgageBrokers.com provided guidance for a projected USD$40 Million in revenue for fiscal year 2007. In addition to the revenue announcement, the company also announced that it had retained the services of Thomas Law Firm in Dallas, Texas to begin the licensing procedures to operate within the United States. Since 2005 the company has experienced steady growth with a quarter over quarter growth rate averaging 104%. After the revenue announcement, MBKR announced that it had gained regulatory approval from the Financial Institution Commission of British Columbia (“FICOM”) to begin operating in the province of British Columbia, Canada’s second largest market. This announcement brought on a flurry of partnerships with local realty firms such as MaxWell Realty that brought on further projections of USD$7 million in yearly revenue.
The entrance into the US market should open the door for MBKR to increase its revenue, possibly dramatically. The current U.S. mortgage market is $3.2 trillion, which creates space for a newcomer. An added bonus to the company is that it is in possession of a universal domain name, mortgagebrokers.com, which will aid it as focuses on marketing efforts, both in traditional media, and in online formats. The company’s website already allows for geographic contextual searches for its Canadian market, which will help as it transitions into the U.S. market. The overall growth in the Canadian housing market should provide the impetus needed for Mortgagebrokers.com to expand into the lucrative U.S. mortgage market.
About MortgageBrokers.com
MortgageBrokers.com is an online lead generator and mortgage brand specializing in the mortgage brokerage sector. The Company is dedicated to re-branding the over 40,000 small and medium mortgage broker (SME) firms in North America while providing these entities scalability through a centralized shared services platform. MortgageBrokers.com is designed to facilitate continued ownership for these SME brokers while they work under the umbrella of one globally recognized brand. The Company provides centralized services in the areas of payroll and accounting, compliance, marketing, technology, HR and lead generation to afford our brokers improved access to potential customers through strategic alliances and partnerships. MortgageBrokers.com also provides its national team the opportunity to leverage origination with lending institutions, establish higher referral fees from lenders, and give its team members the ability to earn ownership in a publicly-traded entity with the goal of an eventual career exit strategy.