Network Capital

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Network Capital
Corporation[1]
ISIN🆔
IndustryMortgage lending, Financial services, Mortgage banking, Mortgage servicing
Founded 📆2002[2]
Founder 👔Tri Nguyen[3]
Headquarters 🏙️,
Irvine, California, U.S.[2]
,
U.S.
Number of locations
Irvine, Los Angeles, Miami[4]
Area served 🗺️
United States
Key people
Tri Nguyen
(CEO)
Products 📟 Mortgages, purchase and refinance
Revenue🤑 Increase $39.9 million (2015)[3]
Members
Number of employees
200+[2]
🌐 Websitewww.networkcapital.net
📇 Address
📞 telephone

Network Capital is a privately owned mortgage originator,[3] servicer and investor, licensed in the United States to operate in 24 states[5][6] and Washington D.C.[7] The company was founded in 2002 and is headquartered in Irvine, California. Network Capital specializes in making mortgage loans directly to customers for purchasing new or used homes, refinancing existing mortgages, consolidating debts and home improvement.[1][8]

History[edit]

Network Capital was established in 2002 by Tri Nguyen, in Orange County, California, as a home loan, loan servicing and refinance originator.[9] The company was initially funded by Nguyen's personal investments. The company was one of the few direct lenders to survive the Financial crisis of 2007–08.[10] Since then, the company expanded its activity by opening East Coast headquarters and training center in Miami in 2015.[3] In 2014, the company won an appellate class action case related to disputes about what issues are covered by arbitration agreements. According to Yahoo Finance, "The case has a wide-ranging impact on agreements between groups that sign on to take disputes before arbitrators."[11] In 2016, Network Capital was estimated to have originated over $1.5 billion in mortgages and loans.[citation needed]

Modus Operandi[edit]

Network Capital is based out of Irvine, California and has offices as well as training center in Los Angeles and Miami.[4][12] Originally, the company applied direct-mail advertising but in 2009, it moved to establish and sponsor the Mortgage Radio Show, a radio program hosted by Sean Meador and Teresa Strasser. The program has operated in 12 states on behalf of Network Capital, promoting its financial services.[13] The company claims to have an accelerated way of closing home loans due to applying technological software such as Microsoft, Oracle, Cisco and Redhat for mortgage evaluation process and thus working without middlemen.[8][14][15][16] The company has been noted by a number of sources as an employee-oriented workplace.[17][18] In the recent years, the company has increasingly focused on Millennial and Generation Z consumers.[19][20][21][22]

References[edit]

  1. 1.0 1.1 Better Business Bureau: Network Capital Funding Corp.
  2. 2.0 2.1 2.2 Bloomberg: Network Capital Funding Corp
  3. 3.0 3.1 3.2 3.3 Miami Herald: Network Capital Funding expands home mortgage market from Miami
  4. 4.0 4.1 NC locations
  5. Finder: Network Capital mortgage review
  6. Network Capital Mortgage Licenses
  7. WSJ: The New Corporate Recruitment Pool: Workers in Dead-End Jobs
  8. 8.0 8.1 Network Capital on How Efficiency Makes the Difference in Mortgage
  9. Forbes: This CEO Hopes To Make Homebuying The Next Major Millennial Trend
  10. Inc.: https://www.inc.com/leonard-kim/this-is-how-technology-is-empowering-mortgage-consumers.html
  11. Yahoo Finance: Network Capital Wins Groundbreaking Appellate Court Case
  12. Business.com: Why Companies Are Moving to Florida
  13. Mortgage Radio
  14. Financial Haze: Closing Faster with Network Capital’s “Same as Cash” Pre-Qualification
  15. Inc: Hire, Train, Retain: What Business Owners Should Understand About Millennials
  16. 10 Companies Using Technology to Disrupt the Lending Industry
  17. Forbes: Great Companies For Work-Life Balance
  18. [https://finance.yahoo.com/news/h-hendy-associates-redesigns-expansion-160000166.html Yahoo Finance: H. Hendy Associates Redesigns Expansion of Network Capital's Corporate Headquarters}
  19. HuffPost: The Key to Helping Millennials Buy Homes
  20. Globest: On Mobility and Millennial Homeownership
  21. The MReport: Generation Z: The Next Up-in-Coming Buyers
  22. Entrepreneur: 3 Trends Driving the Millennial Own vs. Rent Debate

Network Capital (enterprise)[edit]

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