We have weathered the storm so far, from starting Bay Equity as the market was deteriorating in 2007, to overcoming the challenges of getting a mortgage company started with no track record.
We have been able to get our company from a balance sheet perspective through retained earnings to where we are now considered a quality counterparty, and eligible for key industry programs that will help us get to the next level.
In 2011, Bay Equity was named to the San Francisco Business Times list of the “Top 100 Fastest-Growing Private Companies” in the Bay Area.
The list ranks the fastest growing independent and privately-held organizations in San Francisco and the surrounding Bay Area by revenue growth from 2008 through 2010 as identified by PricewaterhouseCoopers. Bay Equity revenues grew more than 1,500 percent in that time frame and the company expects its 2011 deal volume to rise to $1.4 billion across 3,500 loans.
At No. 5 overall, Bay Equity was the highest-ranked financial firm of any kind on the list.
We would like to take what we have accomplished and use that to become one of the next successful mid-level lenders in the marketplace. We think we are well on our way.