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Article: Cloning a business formula. (franchising in mortgage banking)
- Article from:
- Mortgage Banking
- Article date:
- April 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The concept of franchising may be about to take hold in mortgage banking. A company out of the Northwest is proving the appeal of mortgage franchises that share a standard technology platform, a capital-rich franchise parent and a regimen of training programs.
Jan Ward spent almost a decade in the mortgage banking industry. She worked as a loan officer with Centennial Bank in the state of Washington and was a graduate of the Mortgage Bankers Association of America's School of Mortgage Banking. Last year, she decided to strike out on her own. "Management had shifted at the bank, and I felt it was an opportune time to go," she says. However, Ward was not interested in ...