The paper "My Mortgage Freedom Company - Project and Opportunity " is a good example of a business case study. Projects and strategies are meant to achieve customers’ needs while incorporating organizational interests. Most changes in business operations are meant to meet the existing market needs so as to maximize profitability. My Mortgage freedom is one of the companies that have made changes in its operations including change of name and brands to meet customer needs and reduce hassles experienced in mortgage markets. The name was changed from Sharp Finance Group which was founded in 2007 to the current company name which was launched in 2011.
My Mortgage freedom company deals in online mortgage brokerage connecting lenders and borrowers who have similar interests. The company deals with both individual customers and those in groups. This paper responds to the project and opportunity brief illustrated by My Mortgage Freedom. Implementation of strategies for the project would require a clear customer requirement description, identification of information requirements and potential information sources and auditing of expertise skills. Description of client’ s requirements From the company’ s customer-based project, an understanding of the elements of customer requirements is illustrated.
Clients require less stressful procedures and systems while acquiring mortgages. The launching of My Mortgage Freedom was solely for the purpose of reducing such hassles by providing less stressful procedures and services. The company meets this requirement through the provision of online-based transactions which clients are likely to carry out while at home or from anywhere. This is introduced by the use of phones, computers. Since its establishment, it has expanded to become the first company offering online mortgage brokering services. There is however the face to face meeting offers to all clients which are their requirement in order to become more confident with the company.
Clients are also tired of traditional banks and their outdated aspects and are in need of change. The traditional system was complex with unsatisfying interest rates that were not favorable for clients. My Mortgage Freedom was also established for these reasons, to provide less complex procedures suitable for changing needs of the clients and offering greater interests which are favorable to them. The simplicity of procedures is also meant to accelerate the mortgage application process.
Currently, it is as fast as a two minutes process conducted online by the client and the remaining part of the application is conducted by the company’ s staff connecting with the client via phone and sending emails. Another customer requirement is a wide range of lenders providing best loans which meet their needs. My Mortgage Freedom aims at meeting this customer requirement by consolidating more than thirty lenders which gives customers an opportunity for a variety of best loans suitable for meeting their objectives and specific needs.
Since the market is still unexploited, the backend system website being finalized by the company will provide diversification of more lines of product lines which will attract more online viewers. Clients require a variety of products (diversification) from which they can choose and satisfy their needs. They are therefore attracted to more diversified online bases. Specialized products that customers require vary with their needs and nature of applicants. Some customers require the purchase and refinance products while those applicants who own their own businesses require low doc loans.
There are those clients who intend to venture into property investment through their super. Such clients require super loans that are self-managed (SMSF). Another category of client requirement based on their nature is the non-conforming products clients. Such clients are the type with adverse credit extensions.
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