Walking down Garnet Avenue in sunny Pacific Beach, San Diego, you might stumble across a storefront who’s banner reads: “Prospect Financial Group: Your Local Home Loan Experts”. Through the window, you’ll see all the familiar features of a 2019 workplace: collaborative open desk layout, dog-friendly space, even a pool table.
Aesthetics aside, it might surprise you to learn that Prospect Financial Group - a San Diego-based mortgage broker - has been in business for 13 years this month. Prospect’s founder, CEO Jason Vondrak, has watched the company grow from humble beginnings into a top-ranked broker in California. In a crowded market, Prospect stands out by offering low interest rates and exceptional customer service.
“We’re a wholesale broker,” Vondrak explains, “We work with a variety of lenders to offer the market’s best rates for 15-year, 30-year and a variety of loan terms.”
Contrasted with their competition (often large banking institutions), Prospect doesn’t artificially inflate their rates. As a mortgage broker, not a lender, they are bound by the 2010 Dodd-Frank Consumer Protection Act to quote consistent prices for loan origination. “Borrowers tell us that our rates got them in the door, but our customer service is what brings them back,” Vondrak explains.
“I’ve been in the mortgage industry since 2004,” he reflects, “and the industry has undergone many changes which require us to remain agile and adaptable. More than anything, our company culture has had the biggest impact on our success.”
Prospect President, Christine Schindel agrees, adding that she’s “been in the finance field since 2008, but nothing has been more exciting, challenging, and rewarding than navigating the mortgage industry.”
2019 has been the best year for mortgage rates since 2011. If you’ve heard news blurbs regarding Federal Reserve rate cuts and global trade wars, these are Prospect’s bread-and-butter. By interpreting these events’ impact on daily rates, Prospect helps borrowers secure loans in a timely fashion. Even in times of high client volume, Prospect remains committed to contacting every borrower with rate quotes.
“It’s a refinance market right now,” Vondrak elaborates, “borrowers are locking historically low interest rates, and we’re on the verge of the best month in company history.”
Innovation has played a key role in Prospect’s growth. In the last 12 months, they’ve implemented a new Client Relationship Management (CRM) software, systems for data collection, analysis, and new phones to improve Sales’ communication. Schindel adds that part of her role as President is to facilitate “sweeping progress in technology, defined internal processes, and ensure loans are closed ASAP!”
For Prospect, that turn time to close loans averages about 30 days, while their competition closes in about 45. “Borrowers aren’t just clients,” Schindel clarifies, “they are people looking to buy their dream home, or make ends meet by refinancing to a lower monthly payment.” Innovation and technology expedite that process.
After 13 years, Prospect’s online reputation would imply a smooth borrower experience. They currently hold a 5-star ranking on LendingTree, over 4-stars on Google / Yelp, and an A+ with the Better Business Bureau. September also marked Prospect’s biggest month ever for business. Requests for mortgage quotes keep pouring in, along with news headlines that lower rates further.
Schindel credits Prospect’s growth to their “team of inspiring individuals who are supportive and dedicated.” Vondrak concludes, “We can have the best rates, systems and technology in existence, but without buy-in from our team and a togetherness culture, they wouldn’t be nearly as effective. I’m extremely proud to lead Prospect Financial Group.”
If you’re considering a home refinance, or buying your first, you can reach Prospect at (858) 605-0952. They’re eager to assist you.