Cranbrook Mortgage was founded in 1996. At its inception Cranbrook Mortgage was a small one person mortgage broker licensed only in Michigan . We have sense emerged into a Multi million dollar mortgage banker licensed in multiple states with Over 50 employees in all. In 2000, Michael Ayoub became president of Cranbrook Mortgage and many changes and improvements were made to the company. Sales, revenues and profits have skyrocketed. Many new jobs have been created helping to improve the economy and shift some of the unemployed auto workers into a new field with a unique once in a lifetime opportunity at Cranbrook Mortgage.
In 2006, the retail lending division of Cranbrook Mortgage changed its name to Cranbrook Loans. This differentiates our Retail division from our wholesale division.
Many companies have abandoned Michigan , and Cranbrook Loans has embraced it. We have invested hundreds of thousands of dollars in Michigan and in our business strategy. We are focused on Michigan and have invested heavily. Although we are able to do business in many states, the majority of our business is from Michigan residents. Our focused efforts have brought many jobs and commerce to the state of Michigan .
We are doing things our competitors can’t do. We have launched technologies that make us more efficient and effective than our competitors. Anybody who works at Cranbrook Loans knows there is no better mortgage opportunity and that there is not a better way of doing business than the Cranbrook model.
I think we could write a great business playbook, based on our model of success. The principles and concepts we have used are simple and straight forward…
Focus on the customer;
Innovate;
Invest in technology;
Understand, anticipate, and respond to the marketplace;
Execute with quality and efficiency;
Recruit, retain and develop great, talented people;
Rely on teamwork; (“The whole is greater than the sum of its parts.”)
Drive for a shared vision of success; and
Value your people -- engage them, recognize them, appreciate them, and reward them -- enable them to share in the financial success of the business.
Our most important lesson learned in the success of Cranbrook is just how important and how valuable our employees have been in contributing to this success.
Employees receive shares of performance stock on a regular basis, which is made available from the first day of employment, and which is disbursed annually during the Christmas Holiday season.
The company and its people must meet certain benchmarks prior to the vesting of the stock. This will enable us to have a shared vision, to drive together for a stretch goal, and to reap awesome -- and almost unimaginable rewards -- when we get there. The greater the performance, the greater the quantity and the value of stock shares they will receive.
Specifically, our ultimate goal is to achieve $1 billion in loan volume. This is a very challenging goal, but it is one that we believe is attainable within five - seven years.
Each employee has a unique opportunity to contribute to the success and ongoing growth of Cranbrook Loans, and to reap excellent personal rewards in the process.
Our business performance for 2005 and 2006 was outstanding…
Our sales and profits increased, even though the overall mortgage industry was down by 23 percent for the year in 2005, more in 2006 -- and interest rates spiked.
Loan volume for 2005 and 2006 was up, at a 21 percent jump from 2004.
Profits expanded by 17 percent in 2005 and 11% in 2006.
The average number of loans in processing and closed, per home loan professional, has been higher than ever before. Our average numbers are increasing while other companies are decreasing.
And the financial rewards earned by our home loan people have grown significantly.
We implemented lots of new technology to support our growth….
We developed and launched a new proprietary payroll management system.
We adopted new proprietary technology for management trend reporting.
We have developed and launched a new loan-processing technology that will deliver a wide range of advantages -- a more informed sales staff -- and quicker, more efficient loan processing -- to name a few. This system was invented by Cranbrook Loans and is proprietary to our company.
Our loan processing is fully automated which has accelerated the loan-closing turn times, while boosting revenues for home-loan professionals as well as Cranbrook as a whole.
We developed and launched a proprietary Client Relations Management system and software, which – has been a evolutionary step forward for Cranbrook .
We improved our people practices…
At Cranbrook , we rolled out a new strategy for hiring, training and retaining the best of the best in the mortgage industry.
Our employee turnover rate for the past 12 months has been 13 percent, giving us an industry-leading retention rate of 87 percent.
What this says to me is that great people want to be part of a great team at Cranbrook .
We strengthened our public image and visibility…
First, and most importantly, we did this by continuing to be the best in the business.
We also began running an infomercial, as well as regular TV commercials, all of which have been well-received and have brought new customers to the door.
In 2006, we were named one of the 2006 Future 50 of Greater Detroit .
As a mid size Mortgage Banker striving to grow and become the preeminent Mortgage banker, we have many obstacles to overcome. We have overcome many obstacles getting from small to mid size and we will overcome many more before we attain our goal of 1 billion in loan volume. Our executive team is up for the challenge.
With the executive team, the other dedicated professionals, and our unique ingredient for success, we definitely have what it takes to become one of the top companies in the near future.
Contact
Michael Ayoub
Contact e-mail
mayoub@cranbrookloans.com
Contact fax
(586) 649-2351
Contact phone
(586) 649-2350
Company Website
http://www.cranbrookloans.com 
