Prospect Home Finance Celebrates 15 Years in Business

San Diego-based mortgage broker committed to providing borrowers with competitive rates and exceptional service celebrates 15 years in business and continues to thrive in an ever-changing industry.

San Diego, CA, September 30, 2021 --( Prospect Home Finance, a leader in the home finance industry, celebrates 15 years in business this month. The company has helped thousands of homeowners realize their homebuying and refinancing goals by continuing to raise the bar and improve the home finance process.

Prospect Home Finance has repeatedly been recognized by many publications and industry associations (Scotman Guide, Association of Independent Mortgage Experts) as a leader in service, speed, and affordability.

“Looking back, it’s hard to believe that Prospect started 15 years ago,” said Prospect Home Finance CEO Jason Vondrak. “With our recent growth and ambitious plans for the future, we have positioned ourselves to be the top choice for homeowners measured by broker market share inside of five years.”

Vondrak started Prospect in 2006. At the time, the company’s operations were based out of a residential studio apartment. Today, the company has almost 200 employees and will soon consolidate its three office locations into one centralized office in La Jolla, CA. In 2020, Prospect closed over a billion dollars in loan
volume with an 18-business-day average closing timeframe. The company is on pace to help 4,000 homeowners with financing in calendar year 2021.

The past 15 years were not without challenges for Prospect Home Finance. Major economic hurdles brought about by the global economic crash of 2008, the taper tantrum of 2013, the TRID changes in 2015, the 2016 presidential election, and the ongoing Coronavirus pandemic indelibly impacted the company.

“The 2008 crash evidenced the importance the mortgage industry plays in the global economy,” said Vondrak. “Going from a booming market in 2006 and 2007 to complete collapse, everything in the mortgage industry needed recalibrating. This opportunity to create change taught us the importance of being flexible enough to endure any circumstance. When the Fed elected to discontinue buying mortgages and T-bills in 2013, this caused a huge uptick in mortgage rates and forced mortgage lenders to adapt or perish. Similarly, with TRID in 2015, and the election upset in 2016, mortgage rates and the overall housing market saw a whipsaw effect. With the Coronavirus pandemic, Prospect again strategically pivoted our operations,
changing everything from how our team members interact to creating new ways of avoiding delays with clients and lenders.”

Vondrak attributes much of Prospect’s success to the innovation that drives project collaboration from within, the teamwork that exists throughout the company’s operations, largely due to the combined efforts of colleagues within the company’s sales, processing, marketing and administrative teams. Prospect has also partnered with United Wholesale Mortgage, the #1 wholesale lender in the country, and Lawyer’s Title, Prospect’s partner of 10 years for title and escrow services. As a top 25 broker in the country (per AIME 2020 Top 25 Wholesale Lenders), Prospect Home Finance offers a wide range of loan products but specializes in conventional loan products backed by Fannie Mae or Freddie Mac and FHA or VA loans backed by the government.

“We have the licensing, authority, and infrastructural capacity to do any and all residential and commercial loan types including reverse mortgages, non-QM loans, USDA loans, multifamily/multiverse properties, and new home financing, and Prospect is committed to helping clients find the loan that best fits their needs,” said Vondrak. “But because our focus is on the client experience, we turn away those clients that do not fit in our defined wheelhouse. If we tried to be everything to everyone, we would lose our competitive advantage: our ability to close loans in 15 days as opposed to the industry average of 55 days. This is why our clients come back to us for all their home finance needs. Furthermore, the word-of-mouth commitment to our 5-star experience from our borrowers, which we depend on, wouldn’t be possible.”

Prospect’s loan portfolio is always growing, allowing the company to provide the most current and competitive financing options on the market. Some of Prospect’s top loan products include home purchase financing, VA and FHA financing, and cash-out loan programs. For more information, visit
Prospect Home Finance
Mary Montgomery