Core Ops PMO
$1.8M
Net Income
$1.55M
Net GOS
285 bps
Cost per Loan
$4,850
Break-Even Cushion
25.5%
Core Ops PMO
$1.8M
Net Income (incl MTM)
$1.55M
MTM Impact: -$255K
Margin Quality
Gain on Sale Split
500
Total GOS
400
Branch
100
Corporate
MTM Impact
Corporate margin of 100 bps is healthy. MTM volatility within normal range.
Financial Ratios
Current Ratio
1.85x
MBA Avg: 1.5x
Tangible Net Worth
$42.5M
Covenant: $35M
Cash-to-Overhead
2.8 months
Target: 3.0 mo
Working Capital
$18.2M
Min: $15M
Debt-to-Equity
0.65x
Covenant: <1.0x
Break-Even Analysis
Forecasted Profit (Next Month)
$1.4M
Volume Cushion
20%
Current Cushion
$165.0M
above break-even
Break-Even Volume
$520.0M
required
Avg Revenue/Loan
$11,250
Avg Cost/Loan
$4,850
Contribution/Loan
$6,400
Operating 26% above break-even volume of $520.0M.
Gain on Sale Performance
Best Execution vs Day-1
Largest Execution Gap
| Product | Volume | GOS (bps) | Day-1 Pricing | Execution | Delta |
|---|---|---|---|---|---|
| Conventional | 892 | 312 | 325 | 312 | -13 |
| FHA | 456 | 285 | 290 | 285 | -5 |
| VA | 287 | 245 | 240 | 245 | +5 |
| Jumbo | 98 | 195 | 215 | 195 | -20 |
| USDA | 49 | 268 | 265 | 268 | +3 |
Pipeline Efficiency
Avg On-Time Rate
66%
Pricing Impact
-$340K
Lock-to-close timing is impacting execution pricing by -$340K MTD
| Product | Volume | Avg Days | Target | On-Time % | Pricing Impact |
|---|---|---|---|---|---|
| Conventional | 892 | 28 | 25 | 74% | -$145K |
| FHA | 456 | 32 | 30 | 68% | -$98K |
| VA | 287 | 35 | 32 | 62% | -$72K |
| Jumbo | 98 | 38 | 35 | 58% | -$25K |
Recommendations
Variance Decomposition
Core Ops PMO drivers from prior month to current
Channel Economics
| Channel | Volume | GOS (bps) | PMO (bps) | Profit/Loan | Classification |
|---|---|---|---|---|---|
| Retail (Total) | 1,170 | 290 | 148 | $7,620 | Scale |
| Consumer Direct | 256 | 320 | 175 | $8,920 | Scale |
| Brokered Out | 67 | 45 | -35 | -$1,850 | Restructure |
| Branch Retail | 847 | 285 | 142 | $7,850 | Scale |
| Wholesale | 423 | 195 | 98 | $5,420 | Optimize |