Skyline Presentation

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Skyline Presentation

  1. 1. The Difference is ClearSMConfidential Information of Skyline Financial Corp. 12/17/2012 1
  2. 2. Bill Dallas - 35 Years in Mortgage Industry Founded First Franklin  Sold to NationsBank in 1998 for $232 million  Bank of America & NationsBank merge in October 1998  Purchased National Equity/NationPoint an Internet based retail lender  Sold to National City Bank for $333M in 1999 Purchased Ownit in 2003 for $38 million  Sold 20% to Merrill Lynch at $500 million pre-money in 2005  Merrill Lynch pulled credit lines in late 2006 Investor and Board member in several mortgage and banking technology companies  Sysdome/Interthinx – sold for 7x invested capital in 4 years  MindBox – sold for 9x invested capital in 3 years Skyline Home Loans  Became CEO and a major shareholder in 2009. Confidential Information of Skyline Financial Corp. 12/17/2012 2
  3. 3. Mortgage Industry Turmoil Since 2006 Pre-meltdown - 55,000 mortgage brokers & 5,000 mortgage banks with 70% market share Today - 10,000 mortgage brokers and 3,500 mortgage banks with 15% market share The 75% reduction resulted from new rules, reduced warehouse financing, increased repurchase requests and higher compliance costs. Four big banks now have 90% market share in a highly profitable, consumer-rich market segment Talented mortgage veterans do not want to work for a bank Confidential Information of Skyline Financial Corp. 12/17/2012 3
  4. 4. Regulatory Changes Have Been Dramatic  Safe Act & NMLS  Home Valuation Code of Conduct  RESPA Reform and Enforcement  Mortgage Disclosure Improvement Act  Dodd-Frank Wall Street Reform & Consumer Protection Act  Regulation Z—Loan Originator Compensation  Creation of new Consumer Finance Protection Bureau  GSE reform and FHFA’s plan to deal with Fannie & Freddie Confidential Information of Skyline Financial Corp. 12/17/2012 4
  5. 5. Rare Opportunity in Mortgage Industry Build an independent, well-capitalized mortgage bank Take market share back from big banks Use a consumer-focused eMortgage platform to ensure compliance and lower bricks & mortar and compensation costs Use low-cost acquisitions to grow Deliver mortgage production directly to agencies and by-pass bank aggregators Go direct to consumers Confidential Information of Skyline Financial Corp. 12/17/2012 5
  6. 6. Skyline Today Headquartered in Calabasas, CA 250 employees, including 100+ loan officers, 7 locations Completed 5 acquisitions over the last 24 months $1.1 billion in forecast 2011 loan production $27 million in forecast 2011 revenue 10% profit margins and expanding with volume Confidential Information of Skyline Financial Corp. 12/17/2012 6
  7. 7. Loan Level Economics Are Very AttractiveAverage loan size is $380KGross Revenue per loan - $9,684 (250 bps)Gross profit per loan - $4,972 (128 bps)Fixed expenses per loan - $4,331 (111 bps)Operating Income per loan – $641 (16 bps)Opportunity to improve Operating Income to 50 bps per loanBased on Q3 2011 financial performance Confidential Information of Skyline Financial Corp. 12/17/2012 7
  8. 8. Our Competitive AdvantagesInstitutional capitalPrivate “non-bank”Innovative eMortgage Platform (“eMP ”) that reduces cost-to- SMproduce and opens other channels of production beyond retail  Next-generation CRM solution (“iPOSSM”) that allows loan officers to interact with clients online  Me&MyLoanSM direct-to-consumer portal  Back-end functionality to ensure compliance with new regulatory environmentTop team in the business Confidential Information of Skyline Financial Corp. 12/17/2012 8
  9. 9. Our Five-year Plan Grow annual production from $1B to $10B annually Increase EBITDA to $40-60 million Expand into other origination channels including direct-to-consumer and “whole-tail” Use eMP to gain efficiencies across multiple origination channels with a single, integrated platform Confidential Information of Skyline Financial Corp. 12/17/2012 9
  10. 10. How We Get There Strategic add-on acquisitions New mortgage products Add direct connections to Fannie Mae and Ginnie Mae Drive consumer-direct volume via Me&MyLoanSM brand Use iPOSSM to create broker network (“whole-tail”) Confidential Information of Skyline Financial Corp. 12/17/2012 10
  11. 11. Our eMortgage Platform - eMP 2) Me & My Loan and 1) Me & My Loan /iPOS widgets for 3) iPOS for / Affinity Branded Realtor, Credit Unions Loan Officers, Portals and Bank Sites Brokers and Call Center Workflow Event 200 • User • Loan • Pricing Auth App eMortgage Platform Event 100 Event 500 • iPOS Event 200 eMP Integration Services LOS FraudAuthentication AQUA Credit Title AUS Services System ofPricing Engine Escrow AVM VOE/VOI/ Other Record Appraisal Services VOA Confidential Information of Skyline Financial Corp. 12/17/2012 11
  12. 12. Me & My Loan – Loan Selection SM“My Top Picks”for best loan is justa click away!•Close-on-TimeGuarantee•Upfront savings andrewards•A home loanexperience that isfun, easier andhassle-free! Confidential Information of Skyline Financial Corp. 12/17/2012 12
  13. 13. Me & My Loan℠ – Status RewardsMy Loan Centerguides ourcustomer througheach step of theprocessUnique solutionthat actuallypays customer forprocessing onlineVirtual LO is alwaysavailable via onlinechat to help Confidential Information of Skyline Financial Corp. 12/17/2012 13
  14. 14. Me & My Loan℠ – Clear Disclosures• Applying online is easier• Disclosures are faster• Appraisal is ordered ……customer feels safe andin control! Confidential Information of Skyline Financial Corp. 12/17/2012 14
  15. 15. iPOS℠ – For our Loan OfficersOur loan officers will have the latestin CRM technology with iPOS℠Loan officers will work online withcustomers on the application•The disclosure and appraisal process issimple•Loan officers will be able to market, price,lock and communicate 24/7•Our Borrower Loyalty program keepsthem connected for life•Customer Satisfaction Measurement iscaptured Confidential Information of Skyline Financial Corp. 12/17/2012 15
  16. 16. iPOS℠ - Tools to Drive ProductioniPOS℠ allows loan officers to price a loan, viewvaluations, compare loan options, set rate alertsand talk to the customer anytime, anywhere Confidential Information of Skyline Financial Corp. 12/17/2012 16
  17. 17. eMP℠ – Our eVault eVault safely stores allloan documentselectronically Eliminates hard copies Keeps client connected Streamlines their next loan and makes it truly easy! Confidential Information of Skyline Financial Corp. 12/17/2012 17

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