McBride Financial LAN Requirements Document

Essay by gbsepterUniversity, Bachelor's August 2006

download word file, 1 pages 2.3

Requirements Document for McBride's Sioux Falls Location

McBride Financial Services is a start-up regional mortgage lender headquartered in Boise, Idaho. The firm specializes in conventional, FHA, and VA loans for home purchasing and refinancing. This company intends to expand its operations into Wyoming, Montana, North Dakota and South Dakota and be the preeminent provider of low cost mortgage services using state-of-the-art technology in the five-state area (UOP Online rEsource, 2003).

McBride Financial Services intends to provide services to Professionals purchasing a primary or secondary residence, Retirees purchasing a primary or secondary residence, and Families and/or individuals purchasing recreational properties. They believe their customers will receive the most efficient and effective processing of mortgage applications from inception to closing by providing the following services:

* A credit report

* Mortgage

* Inspection

* Appraisal

All for a fixed price of $1,500 dollars (UOP Online rEsource, 2003).

McBride Financial hopes to achieve financial break-even within six months of commencing operations and become a profitable company within one year of operating by leveraging technology to minimize costs and maximize efficiencies for customers and the business in applying for and obtaining mortgages.

Their key factors to success include:

* An efficient, easy to use Web site for the application and processing of mortgage applications.

* An up scale and friendly physical and virtual environment.

* Focused marketing.

* Professional associate brokers located at carefully selected offices leased in the following cities:

- Cheyenne & Jackson, Wyoming

- Helena, Montana

- Bismarck & Fargo, North Dakota

- Pierre & Sioux Falls, South Dakota

- Boise, Idaho (Main Office)

* A simplified mortgage application that can be completed Online or by visiting one of our regional brokers and have them assist in the Online Application process (UOP Online rEsource, 2003).

* McBride Financial has budgeted...