Market Research Report: Southwest Funding

Company Overview

Name, Mission of the Company

• Name: Southwest Funding

• Mission: Empowering people to achieve their dreams through home loan products and financial literacy initiatives.

Founding Information

• Founded: 1993

• Founder: Don Yount

Key People in the Company

• Founder & Owner: Don Yount

• CEO: Joe Garrett

• Chief Strategy Officer: Marc Perez

• Director of Revenue: Traci Carpenter

• Director of Underwriting: Kristy Reynolds

• Director of Compliance: Heidi Myles

• Director of Closing: Kristen Williams

• Director of Technology: Joanna Shelton

Headquarters

• Location: 13150 Coit Road Ste 100, Dallas, TX 75240

Number of Employees

• Employees: More than 600

Revenue of the Company

• No information is available

Recognition

• Known for:

• Ranked Top 100 Mortgage Companies in the U.S. by Mortgage Executive Magazine.

• Recognized by Inc.5000.

Products

Product Offerings

• Conventional Loans: Standard mortgage products for various borrower needs.

• FHA Loans: Government-backed loans for low-to-moderate-income borrowers.

• VA Loans: Loans for veterans and active-duty military personnel.

• USDA Loans: Loans for rural area homebuyers with low-to-moderate incomes.

• Refinancing: Options to refinance existing loans for better rates or terms.

• Home Renovation Loans: Financing for home improvement projects.

• Jumbo Loans: Loans that exceed conventional loan limits.

• Non-QM Loans: Non-qualified mortgages for unique financial situations.

• Down Payment Assistance: Support for affordable down payment programs.

High-Level Description of the Products

• Conventional Loans: Designed for general home buying and refinancing.

• FHA Loans: Government insured to make homeownership accessible.

• VA Loans: No down payment required loans for military families.

• USDA Loans: Zero down payment loans for rural borrowers.

• Refinancing: Tailored to lower interest rates or terms of existing mortgages.

• Home Renovation Loans: Loans that include funds for home improvement.

• Jumbo Loans: High-value loans for expensive properties.

• Non-QM Loans: Flexible qualification criteria for unique borrower needs.

• Down Payment Assistance: Provides financial help to meet down payment requirements.

Key Features of Each Product

• Conventional Loans: Competitive interest rates, fixed/adjustable terms.

• FHA Loans: Low down payment, lenient credit requirements.

• VA Loans: No down payment, no private mortgage insurance (PMI).

• USDA Loans: Zero down payment, lower mortgage insurance rates.

• Refinancing: Options for cash-out, lowering payments, and shortening loan terms.

• Home Renovation Loans: Includes cost of home improvements in the mortgage.

• Jumbo Loans: Higher loan amounts exceeding conforming limits.

• Non-QM Loans: Alternative documentation for income and assets.

• Down Payment Assistance: Various programs to reduce initial buying costs.

Recent Developments

Recent Developments in the Company

• In 2022, Joe Garrett was appointed as CEO.

• In 2023, the company adapted to market changes with strategic investments in technology.

New Products Launched

• No information is available

New Features Added to Existing Products

• No information is available

New Partnerships

• No information is available