The group's principal activity is to originate and lend mortgage loans secured by one to four family residential properties in the san francisco bay area, southern California and Arizona. The group provides these mortgage banking services through wholesale and retail divisions. The wholesale division purchases loan applications from mortgage brokers and sells the same to investors for a price higher than the purchase price. The mortgage loans are processed, closed and funded by the group. The retail division processes and completes the mortgage loan applications and prepares and originates necessary mortgage loan documents. The mortgage loan products include mortgage loans that conform to fnma (federal national mortgage association) and non-conforming mortgage loans.
