CASE STUDY


MORTGAGE BANKING
INDUSTRY

HIGHLIGHTS

  • SYSTEMS & APPLICATION
    DEVELOPMENT
  • LOAN ORIGINATION
    PLATFORM DEVELOPMENT
  • FINAL BENEFIT WAS 16%
    HIGHER THAN ESTIMATE
  • OVER $500,000 TOTAL
    CREDIT

With more than 20 years of experience offering a variety of cutting edge loan products, this mortgage banking company has become one of the most respected mortgage bankers in their industry. With branches and loan officers nationwide, they are able to originate, underwrite, close, and fund loans utilizing proprietary financial software.

R&D QUALIFICATION

In order to be able to offer lower rates and fees, this mortgage banking company relies on their software platform. This advanced processing software and automated underwriting system enables them to close loans quickly, at a lower cost. The software is a critical facet in the company’s ability to ensure homeowners have a great experience. This unique software platform required extensive research, development & testing to ensure that it could function within the constantly changing landscape of the mortgage industry from origination and compliance through funding and servicing.

WHY Source Advisors

As a result of a referral from their trusted audit partner, the company began a feasibility analysis with Source Advisors. During the process they became confident in Source Advisors’ knowledge and expertise in the R&D tax credit area and relied on the education they provided. The feasibility analysis, which was conducted by a seasoned technical director, estimated the potential R&D tax credit benefits prior to engagement. Source Advisors’ approach ensured their team understood the R&D tax credit up front, which was critical to this company’s comfort in making the decision to move forward with the study.

THE RESULTS SPEAK FOR THEMSELVES

The R&D tax credit process is complex, but with Source Advisors’ hands-on consultative approach the company experienced a “seamless process.” In addition, the final credits amounts were 16% higher than originally estimated. Total combined Federal and State tax credits for this mortgage banking company were $520,000 over a 4 year period. The firm continues to realize an annual credit of about $200,000, which they utilize to further grow their business.

HIGHLIGHTS

  • SYSTEMS & APPLICATION
    DEVELOPMENT
  • LOAN ORIGINATION
    PLATFORM DEVELOPMENT
  • FINAL BENEFIT WAS 16%
    HIGHER THAN ESTIMATE
  • OVER $500,000 TOTAL
    CREDIT