Business Model Bank NG

Note:
This workbook models a basic P&L with 35 line-items. The many possible combinations
of aggregation and segmentation (described below) account for most of its bulk.
This financial model depicts a commercial bank with 2 lines of business: Home Lending & Business Lending
Both lines of business have the following 3 Distribution Channels, through which they make their loans:
Retail, Call Center, & Wholesale
The Home Lending business also has a 4th Distribution Channel: "Other"
Both lines of business make 3 types of loans: Conforming, Super Conforming, & FHA
In the Home Lending business, all originated loans are immediately "Held for Sale" on the secondary market
In Business Lending, a portion of its loans are retained, or "Held for Investment", in an owned portfolio
All but the last 3 tabs comprise an integrated "top down" model, accepting high-level assumptions about
Total Loan Originations, Variable Costs as % of Total Loan Originations, and Fixed Cost dollar amounts
The last 3 tabs (purple-shaded "LoanOffice", "HomeExec", & "BusExec") are independent of the others
They are self-contained "bottom-up" models, accepting base assumptions about Loan Executives and
Loan Offices to build up to a consolidated total
Model created by and copyright 2016, Scott Beber, ExcelModels.com (scott@ExcelModels.com)
Tab: Contents
Inputs and Assumptions
P&L contribution of Home Lending business unit
P&L contribution of Business Lending business unit
P&L contribution of both business units
Summarize key drivers of profitability
Guide decision-making on Loan Executive hiring and Loan Office openings
Blend Input the percentages of Loan Origination volume for both Products and Distribution Channels, in each of Home Lending, Business Lending Held-for-Sale, &
FixedInputs Input the Fixed Cost assumptions for each Distribution Channel and Corporate allocations, on a semi-variable schedule according to Loan Origination volum
VariableInputs Input the Variable Cost percentages of Loan Origination volume, for each P&L line-item, by Product and Channel,
for both Home Lending & Business Lending businesses plus Held-for-Investment/Held-for-Sale mix; Also input assum
HomeLend Income Statement for the entire Home Lending business, as well as individual P&L's by Distribution Channel and by Product
BusLend Income Statement for the entire Business Lending business broken down by Held-for-Sale & Held-for-Investment, as well as individual P&L's by Distribution
RollupP&L Stacked Income Statement build for Home Lending, Business Lending Held-for-Sale, Business Lending Held-for-Investment, and Consolidated.
KeyMetrics Loan Origination, Variable & Fixed Cost, and Productivity metrics, and other Key Metrics, by Business, Held-for-Sale/Held-for-Investment, Channel, and Prod
Breakeven Breakeven Analysis providing Loan count and Loan Origination volume required, according to the prevailing Fixed Cost structure, to achieve an EBIT of $0.00
Loan Office "Bottom-up" P&L construction tool, using typical small, medium, and large Loan Office-level metrics to build a Consolidated-level Income Statement for the
HomeExec Evaluation tool using normalized P&L inputs to compare Loan Executive performance to Home Lending business norms, according to Loan Office size (small,
BusExec Evaluation tool using normalized P&L inputs to compare Loan Executive performance to Business Lending business norms, according to Loan Office size (sm
nding Held-for-Sale, & Business Lending Held-for-Investment businesses.
an Origination volume.
mix; Also input assumptions to calculate Interest Income, for each Jumbo ARM product.
P&L's by Distribution Channel and by Product for both Held-for-Sale & Held-for-Investment.
idated.
nt, Channel, and Product.
hieve an EBIT of $0.00
me Statement for the Home Lending business.
oan Office size (small, medium, or large)
o Loan Office size (small, medium, or large)
Note:
You may change input values on this tab
The other tabs are locked for viewing only
Percent of Total Loan Originations by Line of Business, Sell/Hold Strategy, Distribution
Note: Adjust only cells with format like this: x% All other cells update automatically.
Distribution Channel & Loan Type, Home Lending Distribution Channel & L
FHA 10% C'formg S. Conf. FHA

S. Conf. 20% 70% 20% 10% =100%
C'formg 70%
Retail 55% 38.5% 11.0% 5.5%
Call Center 5% 3.5% 1.0% 0.5%
Wholesale 20% 14.0% 4.0% 2.0%
Other 20% 14.0% 4.0% 2.0%
=100%
old Strategy, Distribution Channel, and Loan Type
pdate automatically.
Distribution Channel & Loan Type, Business Lending Held-for-Sale

S. Conf. 25% 5% 25% 70% =100%
C'formg 5%
Retail 25% 1.3% 6.3% 17.5%
Call Center 5% 0.3% 1.3% 3.5%
Wholesale 70% 3.5% 17.5% 49.0%
=100%
Held-for-Investment

S. Conf. 25% 5% 25% 70% =100%
C'formg 5%
Retail 25% 1.3% 6.3% 17.5%
Call Center 5% 0.3% 1.3% 3.5%
Wholesale 70% 3.5% 17.5% 49.0%
=100%
Fixed Inputs
Corporate
Monthly loan volume $0 $100,000,000 $300,000,000

Number of FTE 10 20 30
Fully loaded $ / FTE
Total corporate fixed costs $0 $0 $0
Retail
Loan Executive fully loaded salary
Support staff fully loaded salary $6,000
Other direct costs per Loan Office
Other indirect costs per Loan Office $25,000
Number of Loan Executive per Loan Office 10
Number of support staff per Loan Office 5

Number of Loan Offices 1 2 3
Loan Executive costs $0 $0 $0
Support staff costs $30,000 $60,000 $90,000
Other direct costs $0 $0 $0
Total direct costs $30,000 $60,000 $90,000
Total indirect costs $25,000 $50,000 $75,000
Call Center
Sales Associate loaded salary $10,000

Number of Sales Associates 1 2 3
Number of support staff 2 3 4
Sales Associate costs $10,000 $20,000 $30,000
Wholesale

Other

$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000
40 50 60 70 80
$0 $0 $0 $0 $0
$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

4 5 6 7 8
$0 $0 $0 $0 $0
$120,000 $150,000 $180,000 $210,000 $240,000
$0 $0 $0 $0 $0
$120,000 $150,000 $180,000 $210,000 $240,000
$100,000 $125,000 $150,000 $175,000 $200,000
$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

4 5 6 7 8
5 6 7 8 9
$40,000 $50,000 $60,000 $70,000 $80,000
$30,000 $36,000 $42,000 $48,000 $54,000
$0 $0 $0 $0 $0
$40,000 $50,000 $60,000 $70,000 $80,000
$8,000 $10,000 $12,000 $14,000 $16,000
$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

4 5 6 7 8
5 6 7 8 9
$40,000 $50,000 $60,000 $70,000 $80,000
$30,000 $36,000 $42,000 $48,000 $54,000
$0 $0 $0 $0 $0
$40,000 $50,000 $60,000 $70,000 $80,000
$8,000 $10,000 $12,000 $14,000 $16,000
$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

4 5 6 7 8
5 6 7 8 9
$40,000 $50,000 $60,000 $70,000 $80,000
$30,000 $36,000 $42,000 $48,000 $54,000
$0 $0 $0 $0 $0
$40,000 $50,000 $60,000 $70,000 $80,000
$8,000 $10,000 $12,000 $14,000 $16,000
Variable Inputs
Conforming
TOTAL
P&L Retail Call Center Wholesale Other
Gross Volume $200,000,000
Origination Volume $200,000,000 $77,000,000 $7,000,000 $28,000,000 $28,000,000
Average loan size $357,500 $400,000 $350,000 $500,000 $100,000
% Held-for-Inv.
Size of Exist. Portf.
Gain on Sale % 2.80% 2.50% 2.50% 2.50% 2.50%
Fee/Other Income
Orig'n Fees & Pts% 0.21% 0.21% 0.21% 0.21% 0.21%
Sv'cing Income % 0.04% 0.04% 0.04% 0.04% 0.04%
Interest Income % 0.06% 0.06% 0.06% 0.06% 0.06%
Interest Margin
Net Spread
Add'l Cost of Funds
Def'd Fees/Costs
Deferred Income%
Deferred Cost %
Variable Costs
Loan-related % 0.06% 0.06% 0.06% 0.06% 0.06%
Leads % 0.03% 0.03% 0.03% 0.03% 0.03%
Commission % 2.66% 2.66% 2.66% 2.66% 2.66%
Loan Loss Reserve % 0.175% 0.175% 0.175% 0.175% 0.175%
Home Lending
LOAN TYPE
Super Conforming FHA
Retail Call Center Wholesale Other Retail Call Center Wholesale Other
$22,000,000 $2,000,000 $8,000,000 $8,000,000 $11,000,000 $1,000,000 $4,000,000 $4,000,000

$400,000 $350,000 $500,000 $100,000 $400,000 $350,000 $500,000 $100,000
4.00% 4.00% 4.00% 4.00% 2.50% 2.50% 2.50% 2.50%
0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21%

0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%
0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%

0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
2.66% 2.66% 2.66% 2.66% 2.66% 2.66% 2.66% 2.66%
0.175% 0.175% 0.175% 0.175% 0.175% 0.175% 0.175% 0.175%
Held-for-Sale
TOTAL Conforming Super Conforming
Held-for-Sale Held-for-Inv Retail Call Center Wholesale Retail Call Center
$150,000,000
$100,000,500 $49,999,500 $1,250,006 $250,001 $3,500,018 $6,250,031 $1,250,006
$185,000 $185,000 $300,000 $100,000 $150,000 $300,000 $100,000
33.3%
Beg. Bal → $200,000,000
2.88% 2.50% 2.50% 2.50% 4.00% 4.00%
0.21% 0.20% 0.19% 0.18% 0.21% 0.21%

0.05% 0.17% 0.16% 0.15% 0.04% 0.04%
0.07% 0.14% 0.13% 0.12% 0.06% 0.06%
3.68%
0.00%
0.70%
0.08%
0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%

0.03% 0.09% 0.03% 0.03% 0.03% 0.03% 0.03%
1.40% 1.40% 3.85% 3.05% 0.40% 3.85% 3.05%
0.175% 0.200% 0.175% 0.175% 0.175% 0.175% 0.175%
Business Lending
Held-for-Sale Held-for-Inve
er Conforming FHA Conforming Super Conform
Wholesale Retail Call Center Wholesale Retail Call Center Wholesale Retail
$17,500,088 $17,500,088 $3,500,018 $49,000,245 $624,994 $124,999 $1,749,983 $3,124,969

$150,000 $300,000 $100,000 $150,000 $300,000 $100,000 $150,000 $300,000
$3,124,994 $624,999 $8,749,983 $15,624,969

4.00% 2.50% 2.50% 2.50%
0.21% 0.21% 0.21% 0.21%

0.04% 0.04% 0.04% 0.04%
0.06% 0.06% 0.06% 0.06%
3.68% 3.68% 3.68% 3.68%

0.00% 0.000% 0.000% 0.000%
0.70% 0.70% 0.70% 0.70%

0.08% 0.08% 0.08% 0.08%
0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%

0.03% 0.03% 0.03% 0.03% 0.09% 0.09% 0.09% 0.09%
0.40% 3.85% 3.05% 0.40% 3.85% 3.05% 0.40% 3.85%
0.175% 0.175% 0.175% 0.175% 0.200% 0.200% 0.200% 0.200%
Held-for-Investment
Call Center Wholesale Retail Call Center Wholesale
FHA Loan ARM Pricing
$624,994 $8,749,913 $8,749,913 $1,749,983 $24,499,755 3-1 5-1
$100,000 $150,000 $300,000 $100,000 $150,000 Mix 5% 50%
ATROE 24.02% 23.85%
$3,124,994 $43,749,913 $43,749,913 $8,749,983 $122,499,755 Yield 3.89% 3.89%
Cum Loss 1.25% 1.25%
Duration 3.5 4.0
Capital % 10% 10%
PTROE 37.0% 36.7%
Net Spread 3.71% 3.68%
CPR% 30.0% 30.0%
3.68% 3.68% 3.68% 3.68% 3.68%

0.000% 0.000% 0.000% 0.000% 0.000%
0.70% 0.70% 0.70% 0.70% 0.70%

0.08% 0.08% 0.08% 0.08% 0.08%
0.06% 0.06% 0.06% 0.06% 0.06%

0.09% 0.09% 0.09% 0.09% 0.09%
3.05% 0.40% 3.85% 3.05% 0.40%
0.200% 0.200% 0.200% 0.200% 0.200%
FHA Loan ARM Pricing
7-1 10-1
25% 20% =100%
23.81% 23.98%
3.89% 3.89%
1.25% 1.25%
4.5 5.0
10% 10%
36.6% 36.9%
3.67% 3.69%
40.0% 40.0%
Home Lending DISTRIBUTION CHANNEL
Retail Call Center Wholesale

Held-for-Sale / Held-for-Inv. Held-for-Sale
Gross Volume $200,000,000 $110,000,000 $10,000,000 $40,000,000
Average loan size $357,500 $400,000 $350,000 $500,000
Gain on Sale Income $5,600,000 $3,080,000 $280,000 $1,120,000
Fee/Other Income
Orig'n Fees & Points $425,467 $234,007 $21,273 $85,093
Servicing Income $85,176 $46,847 $4,259 $17,035
Interest Income $124,206 $68,313 $6,210 $24,841
Total Fee/Other Income $634,848 $349,166 $31,742 $126,970
Total Revenue $6,234,848 $3,429,166 $311,742 $1,246,970

Variable Costs
Loan-related $117,126 $64,419 $5,856 $23,425
Leads $56,178 $30,898 $2,809 $11,236
Commissions $5,315,000 $2,923,250 $265,750 $1,063,000
Total Variable Costs $5,488,304 $3,018,567 $274,415 $1,097,661
Net Operating Margin $746,544 $410,599 $37,327 $149,309

Fixed Costs
Direct $90,000 $60,000 $10,000 $10,000
Indirect $56,000 $50,000 $2,000 $2,000
Corporate Alloc. $0 $0 $0 $0
Total Fixed Costs $146,000 $110,000 $12,000 $12,000
Total Costs $5,634,304 $3,128,567 $286,415 $1,109,661
EBIT / NOPLAT $600,544 $300,599 $25,327 $137,309
Loan Loss Reserve $350,000 $192,500 $17,500 $70,000

Net Operating Income $250,544 $108,099 $7,827 $67,309
HANNEL LOAN TYPE
Other Conforming Super Conf'g FHA
$40,000,000 $140,000,000 $40,000,000 $20,000,000

$100,000 $357,500 $357,500 $357,500
$1,120,000 $3,500,000 $1,600,000 $500,000
$85,093 $297,827 $85,093 $42,547

$17,035 $59,623 $17,035 $8,518
$24,841 $86,944 $24,841 $12,421
$126,970 $444,394 $126,970 $63,485
$1,246,970 $3,944,394 $1,726,970 $563,485
$23,425 $81,988 $23,425 $11,713

$11,236 $39,325 $11,236 $5,618
$1,063,000 $3,720,500 $1,063,000 $531,500
$1,097,661 $3,841,813 $1,097,661 $548,830
$149,309 $102,581 $629,309 $14,654
$10,000 $63,000 $18,000 $9,000

$2,000 $39,200 $11,200 $5,600
$0 $0 $0 $0
$12,000 $102,200 $29,200 $14,600
$1,109,661 $3,944,013 $1,126,861 $563,430
$137,309 $381 $600,109 $54
$70,000 $245,000 $70,000 $35,000

$67,309 ($244,619) $530,109 ($34,946)
Business Lending
Held-for-Sale / Held-for-Inv. Held-for-Inv. Held-for-Sale Held-for-Inv.

Gross Volume $150,000,000
Origination Volume $100,000,500 $49,999,500
Average loan size $185,000 $185,000
% Held-for-Inv. 33%
Size of Existing Portfolio Beg. Bal → $200,000,000
Gain on Sale Income $2,875,014
Fee/Other Income
Orig'n Fees & Points $211,373
Servicing Income $48,234
Interest Income $65,273
Total Fee/Other Income $324,879
Interest Margin
Net Spread $9,204,190
Add'l Cost of Funds $0
Net Interest Margin $9,204,190
Def'd Fees/Costs
Deferred Income $349,997
Deferred Costs $40,000
Net Def'd Fees/Costs $309,997
Total Revenue $3,199,894 $9,514,187

Variable Costs
Loan-related $58,563 $28,700
Leads $28,089 $45,273
Commissions $1,395,007 $697,493
Total Variable Costs $1,481,659 $771,466
Net Operating Margin $1,718,234 $8,742,721

Fixed Costs
Direct $50,000 $50,000
Indirect $29,000 $29,000
Corporate Alloc. $0 $0
Total Fixed Costs $79,000 $79,000
Total Costs $1,560,659 $850,466
EBIT / NOPLAT $1,639,234 $8,663,721
Loan Loss Reserve $175,001 $99,999

Net Operating Income $1,464,234 $8,563,722
DISTRIBUTION CHANNEL
Held-for-Sale Held-for-Investment Held-for-Sa
Retail Call Center Wholes. Retail Call Center Wholes. Conf'g
$7,500,000 $37,500,000 $105,000,000 $7,500,000
$25,000,125 $5,000,025 $70,000,350 $12,499,875 $2,499,975 $34,999,650 $5,000,025
$300,000 $100,000 $150,000 $300,000 $100,000 $150,000 $185,000
33% 33% 33%
$62,499,875 $12,499,975 $174,999,650
$718,754 $143,751 $2,012,510 $125,001
$53,024 $10,580 $147,769 $9,275

$12,240 $2,423 $33,571 $7,775
$16,499 $3,275 $45,499 $6,275
$81,764 $16,278 $226,838 $23,325
$2,301,048 $460,210 $6,442,933

$0 $0 $0
$2,301,048 $460,210 $6,442,933
$87,499 $17,500 $244,998

$10,000 $2,000 $28,000
$77,499 $15,500 $216,998
$800,517 $160,028 $2,239,348 $2,378,547 $475,709 $6,659,931 $148,326
$14,641 $2,928 $40,994 $7,175 $1,435 $20,090 $2,928

$7,022 $1,404 $19,662 $11,318 $2,264 $31,691 $1,404
$962,505 $152,501 $280,001 $481,245 $76,249 $139,999 $69,750
$984,168 $156,833 $340,658 $499,739 $79,948 $191,780 $74,083
($183,651) $3,195 $1,898,690 $1,878,808 $395,761 $6,468,151 $74,243
$30,000 $10,000 $10,000 $30,000 $10,000 $10,000 $2,500

$25,000 $2,000 $2,000 $25,000 $2,000 $2,000 $1,450
$0 $0 $0 $0 $0 $0 $0
$55,000 $12,000 $12,000 $55,000 $12,000 $12,000 $3,950
$1,039,168 $168,833 $352,658 $554,739 $91,948 $203,780 $78,033
($238,651) ($8,805) $1,886,690 $1,823,808 $383,761 $6,456,151 $70,293
$43,750 $8,750 $122,501 $25,000 $5,000 $69,999 $8,750

($282,401) ($17,555) $1,764,189 $1,798,809 $378,762 $6,386,152 $61,543
LOAN TYPE
Held-for-Sale Held-for-Investment
Sup.Conf'g FHA Conf'g Sup.Conf'g FHA
$37,500,000 $105,000,000
$25,000,125 $70,000,350 $2,499,975 $12,499,875 $34,999,650
$185,000 $185,000 $185,000 $185,000 $185,000
33% 33% 33%
$12,499,975 $62,499,875 $174,999,650
$1,000,005 $1,750,009
$53,184 $148,914
$10,647 $29,812
$15,526 $43,472
$79,356 $222,198
$460,210 $2,301,048 $6,442,933

$0 $0 $0
$460,210 $2,301,048 $6,442,933
$17,500 $87,499 $244,998

$2,000 $10,000 $28,000
$15,500 $77,499 $216,998
$1,079,361 $1,972,207 $475,709 $2,378,547 $6,659,931
$14,641 $40,994 $1,435 $7,175 $20,090

$7,022 $19,662 $2,264 $11,318 $31,691
$348,752 $976,505 $34,875 $174,373 $488,245
$370,415 $1,037,162 $38,573 $192,867 $540,026
$708,947 $935,045 $437,136 $2,185,680 $6,119,905
$12,500 $35,000 $2,500 $12,500 $35,000

$7,250 $20,300 $1,450 $7,250 $20,300
$0 $0 $0 $0 $0
$19,750 $55,300 $3,950 $19,750 $55,300
$390,165 $1,092,462 $42,523 $212,617 $595,326
$689,197 $879,745 $433,186 $2,165,930 $6,064,605
$43,750 $122,501 $5,000 $25,000 $69,999

$645,446 $757,244 $428,186 $2,140,930 $5,994,605
Rollup P&Ls by Month
Month 1 Month 2 Month 3
Home Lending Held-for-Sale %Gr/M: 1%
Gross Volume $200,000,000 $202,000,000 $204,020,000
Average loan size $357,500 $357,500 $357,500
Gain on Sale Income $5,600,000 $5,656,000 $5,712,560
Fee/Other Income
Orig'n Fees & Points $425,467 $429,722 $434,019
Servicing Income $85,176 $86,027 $86,888
Interest Income $124,206 $125,448 $126,702
Total Fee/Other Income $634,848 $641,196 $647,608
Total Revenue $6,234,848 $6,297,196 $6,360,168

Variable Costs
Loan-related $117,126 $118,297 $119,480
Leads $56,178 $56,740 $57,307
Commissions $5,315,000 $5,368,150 $5,421,832
Total Variable Costs $5,488,304 $5,543,187 $5,598,619
Net Operating Margin $746,544 $754,009 $761,550

Fixed Costs
Direct $90,000 $90,900 $91,809
Indirect $56,000 $56,560 $57,126
Corporate Alloc. $0 $0 $0
Total Fixed Costs $146,000 $147,460 $148,935
Total Costs $5,634,304 $5,690,647 $5,747,554
EBIT / NOPLAT $600,544 $606,549 $612,615
Loan Loss Reserve $350,000 $353,500 $357,035

Net Operating Income $250,544 $253,049 $255,580
Business Lending Held-for-Sale %Gr/M: 1%

Gross Volume $150,000,000 $151,500,000 $153,015,000
% Held-for-Inv.
Origination Volume $100,000,500 $101,000,505 $102,010,510
Fee/Other Income
Interest Income $65,273 $65,926 $66,585
Interest Margin
Interest Income
Net Interest Exp.
Net Interest Margin
Def'd Fees/Costs
Deferred Income
Deferred Costs
Net Def'd Fees/Costs
Total Revenue $3,199,894 $3,231,893 $3,264,212

Variable Costs
Loan-related $58,563 $59,149 $59,740
Leads $28,089 $28,370 $28,654
Commissions $1,395,007 $1,408,957 $1,423,047
Net Operating Margin $1,718,234 $1,735,417 $1,752,771

Fixed Costs
Direct $50,000 $50,500 $51,005
Indirect $29,000 $29,290 $29,583
Total Costs $1,560,659 $1,576,266 $1,592,029
EBIT / NOPLAT $1,639,234 $1,655,627 $1,672,183

Net Operating Income $1,464,234 $1,478,876 $1,493,665
Business Lending Held-for-Investment %Gr/M: 1%

% Held-for-Inv. 33% 33% 33%
Gain on Sale Income
Fee/Other Income
Orig'n Fees & Points
Servicing Income
Interest Income
Total Fee/Other Income
Interest Margin
Net Spread $9,204,190 $9,296,232 $9,389,195
Add'l Cost of Funds $0 $0 $0
Net Interest Margin $9,204,190 $9,296,232 $9,389,195
Def'd Fees/Costs
Deferred Income 349996.5 353496.465 357031.42965
Deferred Costs $40,000 $40,400 $40,804
Net Def'd Fees/Costs $309,997 $313,097 $316,228
Total Revenue $9,514,187 $9,609,329 $9,705,422

Variable Costs
Loan-related $28,700 $28,987 $29,277
Leads $45,273 $45,726 $46,183
Commissions $697,493 $704,468 $711,513
Total Variable Costs $771,466 $779,181 $786,973

Fixed Costs
Direct $50,000 $50,500 $51,005
Indirect $29,000 $29,290 $29,583
Total Costs $850,466 $858,971 $867,561
EBIT / NOPLAT $8,663,721 $8,750,358 $8,837,862

Business Lending Total

Gross Volume $150,000,000 $151,500,000 $153,015,000
% Held-for-Inv. 33% 33% 33%
Fee/Other Income
Interest Income $65,273 $65,926 $66,585
Interest Margin
Interest Income $9,204,190 $9,296,232 $9,389,195
Net Interest Exp. $0 $0 $0
Def'd Fees/Costs
Deferred Income $349,997 $353,496 $357,031
Deferred Costs $40,000 $40,400 $40,804
Total Revenue $12,714,081 $12,841,222 $12,969,634

Variable Costs
Loan-related $87,264 $88,136 $89,018
Leads $73,362 $74,096 $74,837
Commissions $2,092,500 $2,113,425 $2,134,559

Fixed Costs
Direct $100,000 $101,000 $102,010
Indirect $58,000 $58,580 $59,166
Total Costs $2,411,126 $2,435,237 $2,459,589
EBIT / NOPLAT $10,302,955 $10,405,985 $10,510,045

ROLLUP Total
Gross Volume $350,000,000 $353,500,000 $357,035,000
% Held-for-Inv. 14% 14% 14%
Fee/Other Income
Interest Income $189,478 $191,373 $193,287
Interest Margin
Interest Income $9,204,190 $9,296,232 $9,389,195
Net Interest Exp. $0 $0 $0
Def'd Fees/Costs
Deferred Income $349,997 $353,496 $357,031
Deferred Costs $40,000 $40,400 $40,804
Total Revenue $18,948,929 $19,138,418 $19,329,803

Variable Costs
Loan-related $204,390 $206,433 $208,498
Leads $129,540 $130,836 $132,144
Commissions $7,407,500 $7,481,575 $7,556,391

Fixed Costs
Direct $190,000 $191,900 $193,819
Indirect $114,000 $115,140 $116,291
Total Costs $8,045,430 $8,125,884 $8,207,143
EBIT / NOPLAT $10,903,499 $11,012,534 $11,122,660

Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
$206,060,200 $208,120,802 $210,202,010 $212,304,030 $214,427,070 $216,571,341

$357,500 $357,500 $357,500 $357,500 $357,500 $357,500
$5,769,686 $5,827,382 $5,885,656 $5,944,513 $6,003,958 $6,063,998
$438,359 $442,743 $447,170 $451,642 $456,158 $460,720

$87,756 $88,634 $89,520 $90,416 $91,320 $92,233
$127,969 $129,249 $130,541 $131,847 $133,165 $134,497
$654,085 $660,625 $667,232 $673,904 $680,643 $687,449
$6,423,770 $6,488,008 $6,552,888 $6,618,417 $6,684,601 $6,751,447
$120,675 $121,882 $123,101 $124,332 $125,575 $126,831

$57,880 $58,459 $59,044 $59,634 $60,230 $60,833
$5,476,050 $5,530,810 $5,586,118 $5,641,980 $5,698,399 $5,755,383
$5,654,605 $5,711,151 $5,768,263 $5,825,945 $5,884,205 $5,943,047
$769,165 $776,857 $784,625 $792,471 $800,396 $808,400
$92,727 $93,654 $94,591 $95,537 $96,492 $97,457

$57,697 $58,274 $58,857 $59,445 $60,040 $60,640
$0 $0 $0 $0 $0 $0
$150,424 $151,928 $153,447 $154,982 $156,532 $158,097
$5,805,029 $5,863,079 $5,921,710 $5,980,927 $6,040,737 $6,101,144
$618,741 $624,928 $631,178 $637,490 $643,864 $650,303
$360,605 $364,211 $367,854 $371,532 $375,247 $379,000

$258,136 $260,717 $263,324 $265,958 $268,617 $271,303
$154,545,150 $156,090,602 $157,651,508 $159,228,023 $160,820,303 $162,428,506
$185,000 $185,000 $185,000 $185,000 $185,000 $185,000

$103,030,615 $104,060,921 $105,101,531 $106,152,546 $107,214,071 $108,286,212
$2,962,130 $2,991,751 $3,021,669 $3,051,886 $3,082,405 $3,113,229
$217,778 $219,955 $222,155 $224,377 $226,620 $228,887

$49,695 $50,192 $50,694 $51,201 $51,713 $52,230
$67,251 $67,923 $68,603 $69,289 $69,981 $70,681
$334,724 $338,071 $341,452 $344,866 $348,315 $351,798
$3,296,854 $3,329,822 $3,363,121 $3,396,752 $3,430,719 $3,465,026
$60,338 $60,941 $61,551 $62,166 $62,788 $63,416

$28,940 $29,230 $29,522 $29,817 $30,115 $30,417
$1,437,277 $1,451,650 $1,466,166 $1,480,828 $1,495,636 $1,510,593
$1,526,555 $1,541,821 $1,557,239 $1,572,811 $1,588,539 $1,604,425
$1,770,299 $1,788,002 $1,805,882 $1,823,940 $1,842,180 $1,860,602
$51,515 $52,030 $52,551 $53,076 $53,607 $54,143

$29,879 $30,178 $30,479 $30,784 $31,092 $31,403
$0 $0 $0 $0 $0 $0
$81,394 $82,208 $83,030 $83,860 $84,699 $85,546
$1,607,949 $1,624,028 $1,640,269 $1,656,671 $1,673,238 $1,689,971
$1,688,905 $1,705,794 $1,722,852 $1,740,080 $1,757,481 $1,775,056
$180,304 $182,107 $183,928 $185,767 $187,625 $189,501

$1,508,601 $1,523,687 $1,538,924 $1,554,313 $1,569,857 $1,585,555
33% 33% 33% 33% 33% 33%

$185,000 $185,000 $185,000 $185,000 $185,000 $185,000
$51,514,535 $52,029,680 $52,549,977 $53,075,477 $53,606,232 $54,142,294
$9,483,087 $9,577,917 $9,673,697 $9,770,434 $9,868,138 $9,966,819

$0 $0 $0 $0 $0 $0
$9,483,087 $9,577,917 $9,673,697 $9,770,434 $9,868,138 $9,966,819
360601.7439465 364207.761386 367849.8389998 371528.3373898 375243.6207637 378996.0569714

$41,212 $41,624 $42,040 $42,460 $42,885 $43,314
$319,390 $322,584 $325,810 $329,068 $332,359 $335,682
$9,802,477 $9,900,501 $9,999,506 $10,099,501 $10,200,497 $10,302,501
$29,570 $29,866 $30,164 $30,466 $30,771 $31,078

$46,645 $47,111 $47,582 $48,058 $48,539 $49,024
$718,628 $725,814 $733,072 $740,403 $747,807 $755,285
$794,842 $802,791 $810,819 $818,927 $827,116 $835,387
$9,007,634 $9,097,711 $9,188,688 $9,280,574 $9,373,380 $9,467,114
$51,515 $52,030 $52,551 $53,076 $53,607 $54,143

$29,879 $30,178 $30,479 $30,784 $31,092 $31,403
$0 $0 $0 $0 $0 $0
$81,394 $82,208 $83,030 $83,860 $84,699 $85,546
$876,236 $884,999 $893,849 $902,787 $911,815 $920,933
$8,926,240 $9,015,503 $9,105,658 $9,196,714 $9,288,682 $9,381,568
$103,029 $104,059 $105,100 $106,151 $107,212 $108,285

$8,823,211 $8,911,443 $9,000,558 $9,090,563 $9,181,469 $9,273,284
$154,545,150 $156,090,602 $157,651,508 $159,228,023 $160,820,303 $162,428,506

33% 33% 33% 33% 33% 33%
$185,000 $185,000 $185,000 $185,000 $185,000 $185,000
$154,545,150 $156,090,602 $157,651,508 $159,228,023 $160,820,303 $162,428,506
$2,962,130 $2,991,751 $3,021,669 $3,051,886 $3,082,405 $3,113,229
$217,778 $219,955 $222,155 $224,377 $226,620 $228,887

$49,695 $50,192 $50,694 $51,201 $51,713 $52,230
$67,251 $67,923 $68,603 $69,289 $69,981 $70,681
$334,724 $338,071 $341,452 $344,866 $348,315 $351,798
$9,483,087 $9,577,917 $9,673,697 $9,770,434 $9,868,138 $9,966,819

$0 $0 $0 $0 $0 $0
$9,483,087 $9,577,917 $9,673,697 $9,770,434 $9,868,138 $9,966,819
$360,602 $364,208 $367,850 $371,528 $375,244 $378,996

$41,212 $41,624 $42,040 $42,460 $42,885 $43,314
$319,390 $322,584 $325,810 $329,068 $332,359 $335,682
$13,099,330 $13,230,324 $13,362,627 $13,496,253 $13,631,216 $13,767,528
$89,908 $90,807 $91,715 $92,632 $93,558 $94,494

$75,585 $76,341 $77,104 $77,875 $78,654 $79,441
$2,155,905 $2,177,464 $2,199,239 $2,221,231 $2,243,443 $2,265,878
$2,321,398 $2,344,612 $2,368,058 $2,391,738 $2,415,656 $2,439,812
$10,777,933 $10,885,712 $10,994,569 $11,104,515 $11,215,560 $11,327,716
$103,030 $104,060 $105,101 $106,152 $107,214 $108,286

$59,757 $60,355 $60,959 $61,568 $62,184 $62,806
$0 $0 $0 $0 $0 $0
$162,788 $164,415 $166,060 $167,720 $169,397 $171,091
$2,484,185 $2,509,027 $2,534,117 $2,559,459 $2,585,053 $2,610,904
$10,615,145 $10,721,297 $10,828,510 $10,936,795 $11,046,163 $11,156,624
$283,333 $286,166 $289,028 $291,918 $294,837 $297,785

$10,331,813 $10,435,131 $10,539,482 $10,644,877 $10,751,326 $10,858,839
$360,605,350 $364,211,404 $367,853,518 $371,532,053 $375,247,373 $378,999,847

14% 14% 14% 14% 14% 14%
$283,571 $283,571 $283,571 $283,571 $283,571 $283,571
$360,605,350 $364,211,404 $367,853,518 $371,532,053 $375,247,373 $378,999,847
$3,616,215 $3,652,377 $3,688,901 $3,725,790 $3,763,048 $3,800,678
$656,137 $662,698 $669,325 $676,018 $682,779 $689,606

$137,452 $138,826 $140,214 $141,616 $143,033 $144,463
$195,220 $197,172 $199,144 $201,135 $203,147 $205,178
$988,808 $998,696 $1,008,683 $1,018,770 $1,028,958 $1,039,247
$9,483,087 $9,577,917 $9,673,697 $9,770,434 $9,868,138 $9,966,819

$0 $0 $0 $0 $0 $0
$9,483,087 $9,577,917 $9,673,697 $9,770,434 $9,868,138 $9,966,819
$360,602 $364,208 $367,850 $371,528 $375,244 $378,996

$41,212 $41,624 $42,040 $42,460 $42,885 $43,314
$319,390 $322,584 $325,810 $329,068 $332,359 $335,682
$19,523,101 $19,718,332 $19,915,515 $20,114,670 $20,315,817 $20,518,975
$210,583 $212,689 $214,815 $216,964 $219,133 $221,325

$133,465 $134,800 $136,148 $137,510 $138,885 $140,273
$7,631,955 $7,708,274 $7,785,357 $7,863,211 $7,941,843 $8,021,261
$7,976,003 $8,055,763 $8,136,320 $8,217,684 $8,299,860 $8,382,859
$11,547,098 $11,662,569 $11,779,194 $11,896,986 $12,015,956 $12,136,116

$195,757 $197,715 $199,692 $201,689 $203,706 $205,743
$117,454 $118,629 $119,815 $121,013 $122,223 $123,446
$0 $0 $0 $0 $0 $0
$313,212 $316,344 $319,507 $322,702 $325,929 $329,188
$8,289,214 $8,372,106 $8,455,827 $8,540,386 $8,625,790 $8,712,047
$11,233,886 $11,346,225 $11,459,687 $11,574,284 $11,690,027 $11,806,927
$643,938 $650,377 $656,881 $663,450 $670,084 $676,785

$10,589,948 $10,695,848 $10,802,806 $10,910,834 $11,019,943 $11,130,142
Month 10 Month 11 Month 12 YEAR 1
$218,737,055 $220,924,425 $223,133,669 $2,536,500,603

$357,500 $357,500 $357,500 $357,500
$6,124,638 $6,185,884 $6,247,743 $71,022,017
$465,327 $469,980 $474,680 $5,395,987

$93,155 $94,087 $95,028 $1,080,239
$135,842 $137,200 $138,572 $1,575,237
$694,324 $701,267 $708,280 $8,051,462
$6,818,961 $6,887,151 $6,956,023 $79,073,479
$128,099 $129,380 $130,674 $1,485,451

$61,441 $62,055 $62,676 $712,478
$5,812,937 $5,871,067 $5,929,777 $67,407,504
$6,002,477 $6,062,502 $6,123,127 $69,605,432
$816,484 $824,649 $832,896 $9,468,047
$98,432 $99,416 $100,410 $1,141,425

$61,246 $61,859 $62,477 $710,220
$0 $0 $0 $0
$159,678 $161,275 $162,888 $1,851,645
$6,162,155 $6,223,777 $6,286,015 $71,457,077
$656,806 $663,374 $670,008 $7,616,401
$382,790 $386,618 $390,484 $4,438,876

$274,016 $276,756 $279,524 $3,177,525
$164,052,791 $165,693,319 $167,350,252 $1,902,375,452
$185,000 $185,000 $185,000 $185,000

$109,369,074 $110,462,765 $111,567,393 $1,268,256,643
$3,144,361 $3,175,804 $3,207,563 $36,462,378
$231,175 $233,487 $235,822 $2,680,737

$52,752 $53,280 $53,813 $611,723
$71,388 $72,102 $72,823 $827,824
$355,316 $358,869 $362,458 $4,120,284
$3,499,677 $3,534,673 $3,570,020 $40,582,663
$64,050 $64,690 $65,337 $742,729

$30,721 $31,028 $31,338 $356,241
$1,525,699 $1,540,956 $1,556,365 $17,692,180
$1,620,469 $1,636,674 $1,653,041 $18,791,150
$1,879,208 $1,898,000 $1,916,980 $21,791,513
$54,684 $55,231 $55,783 $634,125

$31,717 $32,034 $32,354 $367,793
$0 $0 $0 $0
$86,401 $87,265 $88,138 $1,001,918
$1,706,870 $1,723,939 $1,741,178 $19,793,068
$1,792,807 $1,810,735 $1,828,842 $20,789,595
$191,396 $193,310 $195,243 $2,219,449

$1,601,411 $1,617,425 $1,633,599 $18,570,146
33% 33% 33% 33%

$185,000 $185,000 $185,000 $185,000
$54,683,717 $55,230,554 $55,782,859 $634,118,809
$10,066,487 $10,167,152 $10,268,824 $116,732,172

$0 $0 $0 $0
$10,066,487 $10,167,152 $10,268,824 $116,732,172
382786.0175411 386613.8777165 390480.0164936 4438831.6658584

$43,747 $44,184 $44,626 $507,295
$339,039 $342,429 $345,854 $3,931,537
$10,405,526 $10,509,582 $10,614,678 $120,663,709
$31,389 $31,703 $32,020 $363,991

$49,514 $50,010 $50,510 $574,176
$762,838 $770,466 $778,171 $8,845,957
$843,741 $852,179 $860,701 $9,784,123
$9,561,785 $9,657,403 $9,753,977 $110,879,585
$54,684 $55,231 $55,783 $634,125

$31,717 $32,034 $32,354 $367,793
$0 $0 $0 $0
$86,401 $87,265 $88,138 $1,001,918
$930,142 $939,444 $948,838 $10,786,041
$9,475,384 $9,570,138 $9,665,839 $109,877,667
$109,367 $110,461 $111,566 $1,268,238

$9,366,017 $9,459,677 $9,554,274 $108,609,430
$164,052,791 $165,693,319 $167,350,252 $1,902,375,452

33% 33% 33% 33%
$185,000 $185,000 $185,000 $185,000
$164,052,791 $165,693,319 $167,350,252 $1,902,375,452
$3,144,361 $3,175,804 $3,207,563 $36,462,378
$231,175 $233,487 $235,822 $2,680,737

$52,752 $53,280 $53,813 $611,723
$71,388 $72,102 $72,823 $827,824
$355,316 $358,869 $362,458 $4,120,284
$10,066,487 $10,167,152 $10,268,824 $116,732,172

$0 $0 $0 $0
$10,066,487 $10,167,152 $10,268,824 $116,732,172
$382,786 $386,614 $390,480 $4,438,832

$43,747 $44,184 $44,626 $507,295
$339,039 $342,429 $345,854 $3,931,537
$13,905,203 $14,044,255 $14,184,698 $161,246,371
$95,439 $96,393 $97,357 $1,106,720

$80,235 $81,037 $81,848 $930,416
$2,288,536 $2,311,422 $2,334,536 $26,538,138
$2,464,210 $2,488,852 $2,513,741 $28,575,273
$11,440,993 $11,555,403 $11,670,957 $132,671,098
$109,369 $110,462 $111,567 $1,268,250

$63,434 $64,068 $64,709 $735,585
$0 $0 $0 $0
$172,802 $174,530 $176,276 $2,003,835
$2,637,013 $2,663,383 $2,690,017 $30,579,109
$11,268,191 $11,380,872 $11,494,681 $130,667,263
$300,763 $303,771 $306,809 $3,487,687

$10,967,427 $11,077,102 $11,187,873 $127,179,576
$382,789,845 $386,617,744 $390,483,921 $4,438,876,055

14% 14% 14% 14%
$283,571 $283,571 $283,571 $283,571
$382,789,845 $386,617,744 $390,483,921 $4,438,876,055
$3,838,685 $3,877,072 $3,915,842 $44,513,840
$696,502 $703,467 $710,502 $8,076,724

$145,908 $147,367 $148,840 $1,691,961
$207,230 $209,302 $211,395 $2,403,061
$1,049,640 $1,060,136 $1,070,738 $12,171,746
$10,066,487 $10,167,152 $10,268,824 $116,732,172

$0 $0 $0 $0
$10,066,487 $10,167,152 $10,268,824 $116,732,172
$382,786 $386,614 $390,480 $4,438,832

$43,747 $44,184 $44,626 $507,295
$339,039 $342,429 $345,854 $3,931,537
$20,724,165 $20,931,406 $21,140,720 $240,319,850
$223,538 $225,773 $228,031 $2,592,171

$141,676 $143,093 $144,524 $1,642,894
$8,101,474 $8,182,488 $8,264,313 $93,945,641
$8,466,688 $8,551,355 $8,636,868 $98,180,705
$12,257,477 $12,380,052 $12,503,852 $142,139,145

$207,800 $209,878 $211,977 $2,409,676
$124,680 $125,927 $127,186 $1,445,805
$0 $0 $0 $0
$332,480 $335,805 $339,163 $3,855,481
$8,799,168 $8,887,160 $8,976,031 $102,036,186
$11,924,997 $12,044,247 $12,164,689 $138,283,664
$683,553 $690,389 $697,293 $7,926,563

$11,241,444 $11,353,858 $11,467,397 $130,357,101
Key Metrics
HOME LENDING DISTRIBUTION CHANNEL

Key Metrics TOTAL Retail Call Center Wholesale
Volume
Loan Count 559 275 29 80
Origination Volume $200,000,000 $110,000,000 $10,000,000 $40,000,000
Average Loan Size $357,500 $400,000 $350,000 $500,000
Costs
Variable Cost % 2.744% 2.744% 2.744% 2.744%
Fixed Cost % 0.073% 0.100% 0.120% 0.030%
Direct 0.045% 0.055% 0.100% 0.025%
Indirect 0.028% 0.045% 0.020% 0.005%
Corp. Allocation 0.000% 0.000% 0.000% 0.000%
Key Measurements
Fee/Other Income % 0.32% 0.32% 0.32% 0.32%
Net Cost to Originate $5,152,837 $2,844,560 $263,142 $1,022,567
Net Cost to Originate/Loan $9,211 $10,344 $9,210 $12,782
Personnel Expenses $5,315,000 $2,923,250 $265,750 $1,063,000
Personnel Expenses/Loan $9,501 $10,630 $9,301 $13,288
Gain on Sale % 2.80% 2.80% 2.80% 2.80%
Net Interest Margin %
Production Expense $5,634,304 $3,128,567 $286,415 $1,109,661
Avg Production Profit % 0.38% 0.38% 0.38% 0.38%
Avg Production Profit $760,000 $418,000 $38,000 $152,000
Fixed Costs TOTAL Retail Call Center Wholesale
Direct $90,000 $60,000 $10,000 $10,000
Indirect $56,000 $50,000 $2,000 $2,000
Total $146,000 $110,000 $12,000 $12,000
Productivity
Loans 559 275 29 80
Loan Offices 2 2 n/a n/a
Volume/Loan Office $100,000,000 $55,000,000 n/a n/a
Loans/Loan Office 280 138 n/a n/a
Loan Executives 23 20 1 1
Loan Exec. Salary $4,500 $0 $10,000 $10,000
Volume/Loan Exec. $200,000,000 $110,000,000 $10,000,000 $40,000,000
Loans/Loan Exec. 24 $14 $29 $80
Loan Exec./Loan Office 12 10 n/a n/a
Supporting FTEs 16 10 2 2
Average FTE Salary $6,000 $6,000 $6,000 $6,000
FTE/Loan Office 8 5 n/a n/a
FTE/Loan Exec. 1 1 2 2
DISTRIBUTI
BUSINESS LENDING TOTAL Retail
Key Metrics Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv.
Volume
Loan Count 541 270 83 42
Origination Volume $100,000,500 $49,999,500 $25,000,125 $12,499,875
Average Loan Size $185,000 $185,000 $300,000 $300,000
Costs
Variable Cost % 1.482% 1.543% 3.937% 3.998%
Fixed Cost % 0.079% 0.158% 0.220% 0.440%
Direct 0.050% 0.100% 0.120% 0.240%
Indirect 0.029% 0.058% 0.100% 0.200%
Corp. Allocation 0.000% 0.000% 0.000% 0.000%
Key Measurements
Fee/Other Income % 0.32% 19.11% 0.33% 19.11%
Net Cost to Originate $1,320,287 $471,470 $961,143 $442,239
Net Cost to Originate/Loan $2,443 $1,744 $11,534 $10,614
Personnel Expenses $1,395,007 $697,493 $962,505 $481,245
Personnel Expenses/Loan $2,581 $2,581 $11,550 $11,550
Gain on Sale % 2.88% 2.88%
Net Interest Margin % 18.41% 18.41%
Production Expense $1,560,659 $850,466 $1,039,168 $554,739
Avg Production Profit % 0.38% 0.38% 0.38% 0.38%
Avg Production Profit $380,002 $189,998 $95,000 $47,500
DISTRIBUTI
TOTAL Retail
Fixed Costs Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv.
Direct $50,000 $50,000 $30,000 $30,000
Indirect $29,000 $29,000 $25,000 $25,000
Total $79,000 $79,000 $55,000 $55,000
Productivity
Loans 541 270 83 42
Loan Offices 2 1 1 1
Volume/Loan Office $50,000,250 $49,999,500 $25,000,125 $12,499,875
Loans/Loan Office 270 270 83 42
Loan Executives 23 14 10 10
Loan Exec. Salary $7,500 $7,500 $0 $0
Volume/Loan Exec. $4,347,848 $3,571,393 $2,500,013 $1,249,988
Loans/Loan Exec. 24 $19 $8 $4
Loan Exec./Loan Office 12 14 10 10
Supporting FTEs 16 13 5 5
Average FTE Salary $6,000 $6,000 $6,000 $6,000
FTE/Loan Office 8 13 5 5
FTE/Loan Exec. 1 1 1 1
ANNEL LOAN TYPE
Other Conforming Super Conf'g FHA
400 350 100 50

$40,000,000 $140,000,000 $40,000,000 $20,000,000
$100,000 $400,000 $400,000 $400,000
2.744% 2.744% 2.744% 2.744%

0.030% 0.073% 0.073% 0.073%
0.025% 0.045% 0.045% 0.045%
0.005% 0.028% 0.028% 0.028%
0.000% 0.000% 0.000% 0.000%
0.32% 0.32% 0.32% 0.32%

$1,022,567 $3,585,986 $1,024,567 $512,284
$2,556 $10,246 $10,246 $10,246
$1,063,000 $3,720,500 $1,063,000 $531,500
$2,658 $10,630 $10,630 $10,630
2.80% 2.50% 4.00% 2.50%
$1,109,661 $3,944,013 $1,126,861 $563,430

0.38% 0.38% 0.38% 0.38%
$152,000 $532,000 $152,000 $76,000
LOAN TYPE
ANNEL Conforming Super Conforming
Other Retail Call Center Wholesale Other Retail
$10,000 $42,000 $7,000 $7,000 $7,000 $12,000
$2,000 $35,000 $1,400 $1,400 $1,400 $10,000
$0
$12,000 $77,000 $8,400 $8,400 $8,400 $22,000
400 193 20 56 280 55

n/a 1 n/a n/a n/a 0
n/a $55,000,000 n/a n/a n/a $55,000,000
n/a 138 n/a n/a n/a 138
1 14 1 1 1 4
$10,000 $0 $10,000 $10,000 $10,000 $0
$40,000,000 $77,000,000 $7,000,000 $28,000,000 $28,000,000 $22,000,000
$400 $14 $29 $80 $400 $14
n/a 10 n/a n/a n/a 10
2 7 1 1 1 2
$6,000 $6,000 $6,000 $6,000 $6,000 $6,000
n/a 5 n/a n/a n/a 5
2 1 2 2 2 1
DISTRIBUTION CHANNEL LOAN TYPE

Call Center Wholesale Conforming
Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv.
50 25 467 233 27 14
$5,000,025 $2,499,975 $70,000,350 $34,999,650 $5,000,025 $2,499,975
$100,000 $100,000 $150,000 $150,000 $185,000 $185,000
3.137% 3.198% 0.487% 0.548% 1.482% 1.543%

0.240% 0.480% 0.017% 0.034% 0.079% 0.158%
0.200% 0.400% 0.014% 0.029% 0.050% 0.100%
0.040% 0.080% 0.003% 0.006% 0.029% 0.058%
0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
0.33% 19.11% 0.32% 19.11% 0.47% $0

$156,253 $72,448 $202,890 ($43,218) $67,308 $41,073
$3,125 $2,898 $435 ($185) $2,490 $3,039
$152,501 $76,249 $280,001 $139,999 $69,750 $34,875
$3,050 $3,050 $600 $600 $2,581 $2,581
2.88% 2.88% 2.50%
18.41% 18.41% 18.41%
$168,833 $91,948 $352,658 $203,780 $78,033 $42,523
0.38% 0.38% 0.38% 0.38% 0.38% 0.38%
$19,000 $9,500 $266,001 $132,999 $19,000 $9,500
Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv. Retail Call Center
$10,000 $10,000 $10,000 $10,000 $1,500 $500
$2,000 $2,000 $2,000 $2,000 $1,250 $100
$0 $0 $0 $0
$12,000 $12,000 $12,000 $12,000 $2,750 $600
50 25 467 233 4 3
n/a n/a n/a n/a 0 n/a
n/a n/a n/a n/a $25,000,125 n/a
1 1 1 1 1 0
$10,000 $10,000 $10,000 $10,000 $0 $10,000
$5,000,025 $2,499,975 $70,000,350 $34,999,650 $2,500,013 $5,000,025
$50 $25 $467 $233 $8 $50
2 2 2 2 0 0
$6,000 $6,000 $6,000 $6,000 $6,000 $6,000
2 2 2 2 1 2
LOAN TYPE
Call Center Wholesale Other Retail Call Center Wholesale Other
$2,000 $2,000 $2,000 $6,000 $1,000 $1,000 $1,000
$400 $400 $400 $5,000 $200 $200 $200
$2,400 $2,400 $2,400 $11,000 $1,200 $1,200 $1,200
6 16 80 28 3 8 40
n/a n/a n/a 0 n/a n/a n/a
n/a n/a n/a $55,000,000 n/a n/a n/a
0 0 0 2 0 0 0
$10,000 $10,000 $10,000 $0 $10,000 $10,000 $10,000
$2,000,000 $8,000,000 $8,000,000 $11,000,000 $1,000,000 $4,000,000 $4,000,000
$29 $80 $400 $14 $29 $80 $400
0 0 0 1 0 0 0
$6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
2 2 2 1 2 2 2
LOAN TYPE
Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv.
135 68 378 189

$25,000,125 $12,499,875 $70,000,350 $34,999,650
$185,000 $185,000 $185,000 $185,000
1.482% 1.543% 1.482% 1.543%

0.079% 0.158% 0.079% 0.158%
0.050% 0.100% 0.050% 0.100%
0.029% 0.058% 0.029% 0.058%
0.000% 0.000% 0.000% 0.000%
0.32% $0 0.32% $0
$329,731 $205,367 $923,247 $575,026
$2,440 $3,039 $2,440 $3,039
$348,752 $174,373 $976,505 $488,245
$2,581 $2,581 $2,581 $2,581
4.00% 2.50%
18.41% 18.41%
$390,165 $212,617 $1,092,462 $595,326
0.38% 0.38% 0.38% 0.38%
$95,000 $47,500 $266,001 $132,999
LOAN TYPE
Held-for-Sale
onforming Super Conforming FHA
Wholes. Retail Call Center Wholes. Retail Call Center Wholes.
$500 $7,500 $2,500 $2,500 $21,000 $7,000 $7,000
$100 $6,250 $500 $500 $17,500 $1,400 $1,400
$600 $13,750 $3,000 $3,000 $38,500 $8,400 $8,400
23 21 13 117 58 35 327
n/a 0 n/a n/a 1 n/a n/a
n/a $25,000,125 n/a n/a $25,000,125 n/a n/a
0 3 0 0 7 1 1
$10,000 $0 $10,000 $10,000 $0 $10,000 $10,000
$70,000,350 $2,500,013 $5,000,025 $70,000,350 $2,500,013 $5,000,025 $70,000,350
$467 $8 $50 $467 $8 $50 $467
0 1 1 1 4 1 1
$6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
2 1 2 2 1 2 2
LOAN TYPE
Held-for-Inv.
Conforming Super Conforming FHA
Retail Call Center Wholes. Retail Call Center Wholes. Retail
$1,500 $500 $500 $7,500 $2,500 $2,500 $21,000
$1,250 $100 $100 $6,250 $500 $500 $17,500
$2,750 $600 $600 $13,750 $3,000 $3,000 $38,500
2 1 12 10 6 58 29
0 n/a n/a 0 n/a n/a 1
$12,499,875 n/a n/a $12,499,875 n/a n/a $12,499,875
42 n/a n/a 42 n/a n/a 42
1 0 0 3 0 0 7
$0 $10,000 $10,000 $0 $10,000 $10,000 $0
$1,249,988 $2,499,975 $34,999,650 $1,249,988 $2,499,975 $34,999,650 $1,249,988
$4 $25 $233 $4 $25 $233 $4
10 n/a n/a 10 n/a n/a 10
0 0 0 1 1 1 4
$6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
5 n/a n/a 5 n/a n/a 5
1 2 2 1 2 2 1
FHA
Call Center Wholes.
$7,000 $7,000
$1,400 $1,400
$8,400 $8,400
17 163
n/a n/a
n/a n/a
n/a n/a
1 1
$10,000 $10,000
$2,499,975 $34,999,650
$25 $233
n/a n/a
1 1
$6,000 $6,000
n/a n/a
2 2
Breakeven Analysis
Definitions:
Breakeven Quantity = Number of Loans Originated
Breakeven Revenue = Gain on Sale + Fee/Other Income (Held-for-Sale)
= Net Interest + Net Def'd Fees/Costs (Held-for-Inv.)
Breakeven Volume = Origination Volume
… such that EBIT equals $0.00
Variables in Model Breakeven Formula

Q = Quantity sold Loans Originated Where B/E: EBIT = 0
P = Price per Unit Rev./Origination EBIT = Q * (P-V) - F
V = Var. Cost/Unit Var Cost/Origination B/E Q: F/(P-V)
F = Fixed costs Sum (Fixed Costs) B/E Rev: B/E Q * P
Breakeven is calculable (i.e. yields a positive) ONLY when P > V

Home Lending Retail Call Center
Q= 559 275 29
P= $11,145 $12,470 $10,911
V= $9,810 $10,977 $9,605
F= $146,000 $110,000 $12,000
B/E Quantity 109 74 9
Breakeven Revenue $1,219,336 $918,678 $100,219
Breakeven Volume $39,113,569 $29,469,127 $3,214,814
Business Lending Retail Call Center
Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv. Held-for-Sale
Q= 541 270 83 42 50
P= $5,920 $35,203 $9,606 $57,086 $3,201
V= $2,741 $2,854 $11,810 $11,994 $3,137
F= $79,000 $79,000 $55,000 $55,000 $12,000
B/E Quantity 25 2 n/a 1 188
Breakeven Revenue $147,123 $85,971 n/a $69,629 $601,035
Breakeven Volume $4,597,766 $451,800 n/a $365,920 $18,779,108
Call Center Wholesale Other Conforming
29 80 400 350
$10,911 $15,587 $3,117 $11,270
$9,605 $13,721 $2,744 $10,977
$12,000 $12,000 $12,000 $102,200
9 6 32 349
$100,219 $100,219 $100,219 $3,929,751
$3,214,814 $3,214,814 $3,214,814 $139,480,293

Held-for-Inv. Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv.
25 467 233 27 14
$19,029 $4,799 $28,543 $5,488 $35,203
$3,198 $730 $822 $2,741 $2,854
$12,000 $12,000 $12,000 $3,950 $3,950
1 3 0 1 0
$14,424 $14,153 $12,356 $7,891 $4,299
$75,802 $442,412 $64,933 $266,020 $22,590
LOAN TYPE
100 50
$17,270 $11,270
$10,977 $10,977
$29,200 $14,600
5 50
$80,132 $561,393
$1,856,005 $19,925,756
LOAN TYPE
Held-for-Sale Held-for-Inv. Held-for-Sale Held-for-Inv.
135 68 378 189
$7,987 $35,203 $5,212 $35,203
$2,741 $2,854 $2,741 $2,854
$19,750 $19,750 $55,300 $55,300
4 1 22 2
$30,069 $21,493 $116,639 $60,180
$696,459 $112,950 $4,139,928 $316,260
Loan Office Buildup (Home Lending)
Small Med Large
Production Mo./Mo. Growth
Loan Office count 20 40 10 Loan Volume
Loan Exec. count 4 9 15 Loan Executives
Total Loan Execs. 80 360 150 Volume per Loan Exec.
FTEs 1 3 5 Other FTE
Total FTEs 20 120 50 Base Compensation
Loans Guarantee
Volume per Loan Office $2,000,000 $5,000,000 $7,000,000 FTE Salary
Average Loan Size $225,000 $250,000 $300,000 Base Compensation
Loans per Loan Exec. 9 20 23 Commission %
Distribution 12.9% 64.5% 22.6% Total Commissions
Compensation Total Compensation
Commission % 2.66% 2.66% 2.66% Loans
Guarantee per Loan Exec. $4,500 $4,500 $4,500 Average Loan Size
Avg. FTE Salary $6,000 $6,000 $6,000 Gain on Sale %
Income Net GOS $
GOS % 2.66% 2.66% 2.66% Other Income
Other Income % 0.32% 0.32% 0.32% Variable Costs
Variable Cost % 1.40% 1.40% 1.40% Fixed Costs
Variable Cost $28,000 $70,000 $98,000 Fixed Costs, Direct
Fixed Costs per Loan Office Fixed Costs, Indirect
Direct (excluding Comp.) $24,469 $63,129 $84,692 Fixed Costs, Allocated
Indirect $24,469 $63,129 $84,692 Total Fixed
Corporate Allococation Total Costs
EBIT
Notes:
1. Only orange-shaded cells may be changed. Numerous formulas use array calculations that will fail if modified.
2. Use the following guidelines for Loan Executive count per Loan Office:
# Loan Execs. Sm. Office Med. Office Lg. Office

Min 0 7 14
Max 6 13 1,000
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7
1.00%
$310,000,000 $313,100,000 $316,231,000 $319,393,310 $322,587,243 $325,813,116 $329,071,247
590 596 602 608 614 620 626
$525,424 $525,424 $525,424 $525,424 $525,424 $525,424 $525,424
190 192 194 196 198 200 202
$2,655,000 $2,655,000 $2,655,000 $2,655,000 $2,655,000 $2,655,000 $2,655,000

$1,140,000 $1,140,000 $1,140,000 $1,140,000 $1,140,000 $1,140,000 $1,140,000
$3,795,000 $3,795,000 $3,795,000 $3,795,000 $3,795,000 $3,795,000 $3,795,000
2.66% 2.66% 2.66% 2.66% 2.66% 2.66% 2.66%
$8,238,250 $8,320,633 $8,403,839 $8,487,877 $8,572,756 $8,658,484 $8,745,068
$12,033,250 $12,115,633 $12,198,839 $12,282,877 $12,367,756 $12,453,484 $12,540,068
1,211 1,223 1,235 1,248 1,260 1,273 1,286
$255,963 $255,963 $255,963 $255,963 $255,963 $255,963 $255,963
2.66% 2.66% 2.66% 2.66% 2.66% 2.66% 2.66%
$8,238,250 $8,320,633 $8,403,839 $8,487,877 $8,572,756 $8,658,484 $8,745,068
$984,014 $993,855 $1,003,793 $1,013,831 $1,023,969 $1,034,209 $1,044,551
$4,340,000 $4,383,400 $4,427,234 $4,471,506 $4,516,221 $4,561,384 $4,606,997
$3,861,448 $3,900,063 $3,939,063 $3,978,454 $4,018,238 $4,058,421 $4,099,005

$3,861,448 $3,861,448 $3,900,063 $3,939,063 $3,978,454 $4,018,238 $4,058,421
$0 $0 $0 $0 $0 $0 $0
$7,722,896 $7,761,511 $7,839,126 $7,917,517 $7,996,692 $8,076,659 $8,157,426
$24,096,146 $24,260,543 $24,465,199 $24,671,901 $24,880,670 $25,091,527 $25,304,492
($14,873,882) ($14,946,056) ($15,057,567) ($15,170,193) ($15,283,944) ($15,398,834) ($15,514,872)
fail if modified.
Month 8 Month 9 Month 10 Month 11 Month 12 YEAR 1
$332,361,959 $335,685,579 $339,042,435 $342,432,859 $345,857,187 $3,931,575,934

633 639 645 652 658 658
$525,424 $525,424 $525,424 $525,424 $525,424 $525,424
204 206 208 210 212 212
$2,655,000 $2,655,000 $2,655,000 $2,655,000 $2,655,000 $31,860,000

$1,140,000 $1,140,000 $1,140,000 $1,140,000 $1,140,000 $13,680,000
$3,795,000 $3,795,000 $3,795,000 $3,795,000 $3,795,000 $45,540,000
2.66% 2.66% 2.66% 2.66% 2.66% 2.66%
$8,832,519 $8,920,844 $9,010,053 $9,100,153 $9,191,155 $104,481,630
$12,627,519 $12,715,844 $12,805,053 $12,895,153 $12,986,155 $150,021,630
1,298 1,311 1,325 1,338 1,351 15,360
$255,963 $255,963 $255,963 $255,963 $255,963 $255,963
2.66% 2.66% 2.66% 2.66% 2.66% 2.66%
$8,832,519 $8,920,844 $9,010,053 $9,100,153 $9,191,155 $104,481,630
$1,054,997 $1,065,547 $1,076,202 $1,086,964 $1,097,834 $12,479,766
$4,653,067 $4,699,598 $4,746,594 $4,794,060 $4,842,001 $55,042,063
$4,139,995 $4,181,395 $4,223,209 $4,265,441 $4,308,096 $48,972,828

$4,099,005 $4,139,995 $4,181,395 $4,223,209 $4,265,441 $48,526,181
$0 $0 $0 $0 $0 $0
$8,239,000 $8,321,390 $8,404,604 $8,488,650 $8,573,537 $97,499,009
$25,519,587 $25,736,833 $25,956,251 $26,177,863 $26,401,692 $302,562,703
($15,632,071) ($15,750,442) ($15,869,996) ($15,990,746) ($16,112,704) ($185,601,307)
L...
Loan Executive Buildup (Home Lending)
P&L per Loan Exec.
Mo./Mo. Growth
Loans per Loan Executive
1
Small Average Loan Size
Large
Medium
Production per Loan Executive
Base Compensation
Loan Office Size Guarantee/Loan Executive
Small Med Large Total FTE Salary
Loans per Loan Executive 2.2 2.2 2.0 Total Base Comp.
Average Loan Size $225,000 $250,000 $250,000 Total Commissions
Loan Exec. per FTE 3.5 3.0 2.5 Total Compensation
Guarantee/Loan Executive $4,500 $4,500 $4,500 Net GOS $
Salary per LTE $6,000 $5,000 $5,000 Other Income
Commission % 1.40% 1.50% 1.60% Variable Costs
Gain on Sale % 1.60% 1.50% 1.45% Fixed Costs per Loan Executive
Other Income % 0.32% 0.35% 0.40% Direct
Variable Cost % 1.40% 1.40% 1.40% Indirect
Fixed Costs per Loan Exec. Corp. Allocated
Direct (excluding Comp.) $6,117 $5,882 $5,646 Total Fixed
Indirect $6,117 $5,882 $5,646 Total Costs
Corp. Allocated EBIT
Note: Only orange-shaded cells may be changed.

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
1.00%
2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2
$225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000
$495,000 $495,000 $495,000 $495,000 $495,000 $495,000 $495,000 $495,000 $495,000
$4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500

$1,714 $1,714 $1,714 $1,714 $1,714 $1,714 $1,714 $1,714 $1,714
$6,214 $6,214 $6,214 $6,214 $6,214 $6,214 $6,214 $6,214 $6,214
$6,930 $6,930 $6,930 $6,930 $6,930 $6,930 $6,930 $6,930 $6,930
$13,144 $13,144 $13,144 $13,144 $13,144 $13,144 $13,144 $13,144 $13,144
$7,920 $7,920 $7,920 $7,920 $7,920 $7,920 $7,920 $7,920 $7,920
$1,571 $1,587 $1,603 $1,619 $1,635 $1,651 $1,668 $1,685 $1,701
$6,930 $6,999 $7,069 $7,140 $7,211 $7,283 $7,356 $7,430 $7,504
$6,117 $6,178 $6,240 $6,302 $6,366 $6,429 $6,493 $6,558 $6,624

$6,117 $6,117 $6,117 $6,117 $6,117 $6,117 $6,117 $6,117 $6,117
$0 $0 $0 $0 $0 $0 $0 $0 $0
$12,234 $12,295 $12,357 $12,420 $12,483 $12,546 $12,611 $12,676 $12,741
$32,309 $32,439 $32,571 $32,704 $32,838 $32,974 $33,111 $33,250 $33,390
($22,817) ($22,932) ($23,048) ($23,165) ($23,283) ($23,403) ($23,523) ($23,645) ($23,768)
2.2 2.2 2.2 2.2

$225,000 $225,000 $225,000 $225,000
$495,000 $495,000 $495,000 $495,000
$4,500 $4,500 $4,500 $54,000

$1,714 $1,714 $1,714 $20,571
$6,214 $6,214 $6,214 $74,571
$6,930 $6,930 $6,930 $83,160
$13,144 $13,144 $13,144 $157,731
$7,920 $7,920 $7,920 $95,040
$1,718 $1,736 $1,753 $19,927
$7,579 $7,655 $7,732 $87,890
$6,690 $6,757 $6,825 $77,580

$6,117 $6,117 $6,117 $73,406
$0 $0 $0 $0
$12,807 $12,874 $12,942 $150,986
$33,531 $33,674 $33,818 $396,607
($23,892) ($24,018) ($24,145) ($281,640)
...
Loan Executive Buildup (Business Lending)
P&L per Loan Exec.
Mo./Mo. Growth
Loans per Loan Executive
1
Small Average Loan Size
Large
Medium
Production per Loan Executive
Base Compensation
Loan Office Size Guarantee/Loan Executive
Small Med Large Total FTE Salary
Loans per Loan Executive 2.2 2.2 2.0 Total Base Comp.
Average Loan Size $225,000 $250,000 $250,000 Total Commissions
Loan Exec. per FTE 3.5 3.0 2.5 Total Compensation
Guarantee/Loan Executive $4,500 $4,500 $4,500 Net GOS $
Salary per LTE $6,000 $5,000 $5,000 Other Income
Commission % 1.40% 1.50% 1.60% Variable Costs
Gain on Sale % 1.60% 1.50% 1.45% Fixed Costs per Loan Executive
Other Income % 0.32% 0.35% 0.40% Direct
Variable Cost % 1.40% 1.40% 1.40% Indirect
Fixed Costs per Loan Exec. Corp. Allocated
Direct (excluding Comp.) $6,117 $5,882 $5,646 Total Fixed
Indirect $6,117 $5,882 $5,646 Total Costs
Corp. Allocated EBIT
Note: Only orange-shaded cells may be changed.

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
1.00%
2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2
$225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000
$495,000 $495,000 $495,000 $495,000 $495,000 $495,000 $495,000 $495,000 $495,000
$4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500

$1,714 $1,714 $1,714 $1,714 $1,714 $1,714 $1,714 $1,714 $1,714
$6,214 $6,214 $6,214 $6,214 $6,214 $6,214 $6,214 $6,214 $6,214
$6,930 $6,930 $6,930 $6,930 $6,930 $6,930 $6,930 $6,930 $6,930
$13,144 $13,144 $13,144 $13,144 $13,144 $13,144 $13,144 $13,144 $13,144
$7,920 $7,920 $7,920 $7,920 $7,920 $7,920 $7,920 $7,920 $7,920
$1,571 $1,587 $1,603 $1,619 $1,635 $1,651 $1,668 $1,685 $1,701
$6,930 $6,999 $7,069 $7,140 $7,211 $7,283 $7,356 $7,430 $7,504
$6,117 $6,178 $6,240 $6,302 $6,366 $6,429 $6,493 $6,558 $6,624

$6,117 $6,117 $6,117 $6,117 $6,117 $6,117 $6,117 $6,117 $6,117
$0 $0 $0 $0 $0 $0 $0 $0 $0
$12,234 $12,295 $12,357 $12,420 $12,483 $12,546 $12,611 $12,676 $12,741
$32,309 $32,439 $32,571 $32,704 $32,838 $32,974 $33,111 $33,250 $33,390
($22,817) ($22,932) ($23,048) ($23,165) ($23,283) ($23,403) ($23,523) ($23,645) ($23,768)
2.2 2.2 2.2 2.2

$225,000 $225,000 $225,000 $225,000
$495,000 $495,000 $495,000 $495,000
$4,500 $4,500 $4,500 $54,000

$1,714 $1,714 $1,714 $20,571
$6,214 $6,214 $6,214 $74,571
$6,930 $6,930 $6,930 $83,160
$13,144 $13,144 $13,144 $157,731
$7,920 $7,920 $7,920 $95,040
$1,718 $1,736 $1,753 $19,927
$7,579 $7,655 $7,732 $87,890
$6,690 $6,757 $6,825 $77,580

$6,117 $6,117 $6,117 $73,406
$0 $0 $0 $0
$12,807 $12,874 $12,942 $150,986
$33,531 $33,674 $33,818 $396,607
($23,892) ($24,018) ($24,145) ($281,640)

Business Model Bank NG

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Business Model Bank NG

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Model created by and copyright 2016, Scott Beber, ExcelModels.com (scott@ExcelModels.com)

Percent of Total Loan Originations by Line of Business, Sell/Hold Strategy, Distribution

FHA 10% C'formg S. Conf. FHA

Distribution Channel & Loan Type, Business Lending Held-for-Sale

FHA 70% C'formg S. Conf. FHA

FHA 70% C'formg S. Conf. FHA

Monthly loan volume $0 $100,000,000 $300,000,000

Monthly loan volume $0 $100,000,000 $300,000,000

Monthly loan volume $0 $100,000,000 $300,000,000

Monthly loan volume $0 $100,000,000 $300,000,000

Monthly loan volume $0 $100,000,000 $300,000,000

$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

$500,000,000 $750,000,000 $1,000,000,000 $2,000,000,000 $5,000,000,000

$22,000,000 $2,000,000 $8,000,000 $8,000,000 $11,000,000 $1,000,000 $4,000,000 $4,000,000

4.00% 4.00% 4.00% 4.00% 2.50% 2.50% 2.50% 2.50%

0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21%

0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%

0.21% 0.20% 0.19% 0.18% 0.21% 0.21%

0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%

$17,500,088 $17,500,088 $3,500,018 $49,000,245 $624,994 $124,999 $1,749,983 $3,124,969

$3,124,994 $624,999 $8,749,983 $15,624,969

0.21% 0.21% 0.21% 0.21%

3.68% 3.68% 3.68% 3.68%

0.70% 0.70% 0.70% 0.70%

0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%

3.68% 3.68% 3.68% 3.68% 3.68%

0.70% 0.70% 0.70% 0.70% 0.70%

0.06% 0.06% 0.06% 0.06% 0.06%

Retail Call Center Wholesale

Total Revenue $6,234,848 $3,429,166 $311,742 $1,246,970

Net Operating Margin $746,544 $410,599 $37,327 $149,309

EBIT / NOPLAT $600,544 $300,599 $25,327 $137,309

Loan Loss Reserve $350,000 $192,500 $17,500 $70,000

Other Conforming Super Conf'g FHA

$40,000,000 $140,000,000 $40,000,000 $20,000,000

$85,093 $297,827 $85,093 $42,547

$1,246,970 $3,944,394 $1,726,970 $563,485

$23,425 $81,988 $23,425 $11,713

$149,309 $102,581 $629,309 $14,654

$10,000 $63,000 $18,000 $9,000

$137,309 $381 $600,109 $54

$70,000 $245,000 $70,000 $35,000

Held-for-Sale / Held-for-Inv. Held-for-Inv. Held-for-Sale Held-for-Inv.

Total Revenue $3,199,894 $9,514,187

Net Operating Margin $1,718,234 $8,742,721

EBIT / NOPLAT $1,639,234 $8,663,721

Loan Loss Reserve $175,001 $99,999

$53,024 $10,580 $147,769 $9,275

$2,301,048 $460,210 $6,442,933

$87,499 $17,500 $244,998

$800,517 $160,028 $2,239,348 $2,378,547 $475,709 $6,659,931 $148,326

$14,641 $2,928 $40,994 $7,175 $1,435 $20,090 $2,928

($183,651) $3,195 $1,898,690 $1,878,808 $395,761 $6,468,151 $74,243

$30,000 $10,000 $10,000 $30,000 $10,000 $10,000 $2,500

($238,651) ($8,805) $1,886,690 $1,823,808 $383,761 $6,456,151 $70,293

$43,750 $8,750 $122,501 $25,000 $5,000 $69,999 $8,750

$460,210 $2,301,048 $6,442,933

$17,500 $87,499 $244,998

$1,079,361 $1,972,207 $475,709 $2,378,547 $6,659,931

$14,641 $40,994 $1,435 $7,175 $20,090