MortgagePower
Mortgage Power Inc is a privately held, founder-owned Arizona mortgage brokerage offering residential purchase, refinance, and Non-QM loan products (Conventional, FHA, VA, USDA, Jumbo, Bank Statement, ITIN, DSCR) to individual consumers across Arizona via online applications and REALTOR referrals.
- Company typePrivate
- Founded1993
- HeadquartersGlendale, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What MortgagePower does
Mortgage Power Inc is a privately held, founder-owned mortgage brokerage headquartered in Glendale, Arizona, operating under a single Arizona mortgage broker license. Founded in 1993 by Randy Howell, a retired US Army veteran, the firm provides residential mortgage origination and refinancing services to individual consumers across Arizona. The company's product portfolio spans conventional agency products (Conventional Fixed Rate, FHA, VA, USDA, Jumbo, 203K), alternative structures (ARM Conversion, Home Equity/HELOC, Reverse Mortgage, Construction, Graduated Payment, Interest-Only), and a Non-QM suite targeting self-employed, investor, and non-citizen borrowers (Bank Statement, 1099, ITIN, DSCR, Asset-Based). Refinancing, purchase, and reverse mortgage transactions form the core transaction mix.
The technology stack is light: a WordPress-based marketing website with SEO-optimized product pages, a suite of six online mortgage calculators, and a third-party online application platform hosted at 1003app.com. No proprietary AI/ML, API, or SDK infrastructure is evidenced. Lead generation relies on organic search, the founder's social media presence (Facebook, LinkedIn), a refer-a-friend program, and a referral network of Arizona REALTORs. Pricing is transaction-based, with closing costs of 2-5% of loan amount and an extended 270-day rate lock offering with a 45-day float-down option.
The business is a single-person/small-team relationship-driven brokerage. Revenue derives from origination fees, closing costs, interest rate spreads, and loan servicing streams. The firm has received regional recognition including two AAMB Broker of the Year awards, Top 5 listing by Phoenix Magazine, and Top 10 by Southwest Magazine, but operates without institutional capital, multi-state licensing, or disclosed headcount growth, constraining both scalability and addressable market reach.
MortgagePower firmographics
Firmographics- Name
- MortgagePower
- Legal name
- Mortgage Power Inc
- Website
- https://mortgagepowerinc.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Mortgage Power Inc is a privately held, founder-owned Arizona mortgage brokerage offering residential purchase, refinance, and Non-QM loan products (Conventional, FHA, VA, USDA, Jumbo, Bank Statement, ITIN, DSCR) to individual consumers across Arizona via online applications and REALTOR referrals.
- Ownership category
- akta.pro rank
MortgagePower industry classification
Industry- Product category
- Mortgage Lending
- NAICS
- Mortgage and Nonmortgage Loan Brokers (522310)
- SIC
- Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Residential Mortgage Brokerage (Purchase & Refinance) (FSAEAEAA)
- akta.pro secondary industries
- Reverse Mortgage Origination (HECM & Proprietary) (FSALAIAA), Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL)
Keywords
Where MortgagePower is headquartered
LocationHeadquarters
- HQ city
- Glendale
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
MortgagePower business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Mortgage Origination: Revenue generated from originating mortgage loans through origination fees, interest rate spreads, and closing costs charged to borrowers
- Loan Servicing: Ongoing revenue from servicing mortgage loans held or originated for investors
- Refinancing: Revenue from processing refinance transactions including origination fees and closing costs
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Closing costs range from 2-5% of purchase price |
| Other | Pay-as-you-go | Rate lock agreements with up to 270 days |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
MortgagePower product offering
Product offeringCore offering
Mortgage Power Inc is an Arizona-based mortgage brokerage that originates and brokers residential home loans for consumers, including purchase, refinance, home equity, reverse mortgage, construction, and non-qualified mortgage products. The company operates a direct-to-consumer model with online application capabilities via the 1003app platform and supports customers with personalized loan officer guidance under founder Randy Howell.
Product overview
MortgagePower (Mortgage Power Inc) is a mortgage lending company based in Glendale, AZ, led by Randy Howell, offering a comprehensive portfolio of mortgage products. The core offering consists of traditional mortgage products including Conventional Fixed Rate Mortgages (15 and 30-year terms), FHA Loans, VA Loans, USDA Home Loans, Jumbo Loans, and 203K Rehabilitation Loans for home purchases and refinancing. The company also offers specialized loan products including Home Equity Loans/HELOC, Reverse Mortgages, Construction Loans, and Investment Property Financing. For borrowers with non-traditional income documentation, MortgagePower provides Non-QM products including Bank Statement Loans, 1099 Mortgages for self-employed borrowers, Asset-Based Mortgages, ITIN Mortgages for non-citizens, and DSCR (Debt Service Coverage Ratio) Loans for real estate investors. Additional offerings include Rehab Loans, Graduated Payment Mortgages, and Interest-Only Mortgages. The company provides complementary tools including a suite of mortgage calculators (Mortgage Payment, USDA, Conventional, VA, FHA, Jumbo), online loan applications, and educational resources for first-time homebuyers.
Differentiator
Problem solved
Functional benefit
Products and services
- Conventional Fixed Rate Mortgages Fixed-rate mortgage loans available in 15-year and 30-year terms offering predictable monthly payments and interest rate stability for homebuyers and refinancing borrowers.
- FHA Loans Government-backed mortgage loans insured by the Federal Housing Administration, designed for borrowers with lower credit scores or smaller down payments (as low as 3.5%).
- VA Loans Mortgage loans guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, and their surviving spouses, offering competitive rates with no down payment and no private mortgage insurance.
- USDA Home Loans Zero-down payment mortgage options for eligible rural homebuyers offered through the USDA Rural Development Guaranteed Housing Loan Program, issued by the United States Department of Agriculture.
- Jumbo Loans Loans that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA), designed for financing higher-value properties that cannot be purchased with conventional mortgages.
- 203K Loans FHA-backed loans that combine renovation costs with mortgage financing, allowing homebuyers to purchase or refinance a home and fund repairs in a single loan, available in Standard (for extensive renovations over $35,000) and Limited versions.
- Home Equity Loans/HELOC Home equity financing options allowing homeowners to borrow against their property's accumulated equity, available as lines of credit (HELOC) or traditional second mortgage loans.
- Reverse Mortgages Loans for homeowners aged 62 or older that allow them to convert home equity into funds without monthly mortgage payments, with repayment due when the borrower no longer resides in the home.
- Construction Loans Specialized financing for building new homes, with funds disbursed in stages during construction and transitioning to permanent mortgage upon completion.
- Investment Property Financing Mortgage financing specifically designed for purchasing properties intended to generate income, such as rental properties or commercial real estate investments.
- Refinance Loans Options to replace existing mortgages with new loans offering better terms, lower interest rates, or different loan structures including rate-and-term, cash-out, and streamline refinances.
- ARM Conversion Refinancing option allowing borrowers to convert from an adjustable-rate mortgage to a fixed-rate mortgage, providing stability and protection against rising interest rates.
- Low Down Payment Purchase Options Mortgage programs allowing purchases with down payments less than 20% of the home's purchase price, including FHA (3.5%), VA (0%), and Conventional (3-5%) options.
- Bank Statement Loans Non-qualified mortgage loans using 12-24 months of bank statements instead of tax returns to verify income, designed for self-employed borrowers and business owners.
- 1099 Mortgage Self-employed mortgage designed for individuals with 1099 income documentation, offering flexible income calculation and credit requirements as low as 620.
- Asset-Based Mortgages Loans that utilize assets as income qualification, designed for retirees or those with limited verifiable income but substantial assets, depleting assets over the mortgage term.
- ITIN Mortgages Mortgages for borrowers using an Individual Tax Identification Number (ITIN) instead of a Social Security number, enabling non-U.S. citizens to achieve homeownership without requiring a Green Card.
- Debt Service Coverage (DSCR) Loans Non-QM loans for real estate investors using the debt service coverage ratio to assess repayment ability, bypassing traditional income verification requirements.
- Rehab Loans Renovation loans or fix-and-flip financing designed to fund property rehabilitation, available for purchasing distressed properties or refinancing with renovation costs included.
- Graduated Payment Mortgages Mortgages with lower initial monthly payments that gradually increase over time, designed for borrowers anticipating future income growth.
- Interest-Only Mortgages Mortgages allowing homeowners to pay only the interest on the loan for an initial period (typically 5-10 years), providing lower initial payments and financial flexibility.
- Mortgage Calculators Suite Online calculation tools including Mortgage Payment, USDA Loan, Conventional Loan, VA Loan, FHA Loan, and Jumbo Loan calculators to help borrowers estimate payments.
Quantifiable outcome
- Loans typically close within 30-45 days from application
Companies that use MortgagePower
Customer profileNamed customers4 records
Segments7 records
Ideal customer profiles6 records
MortgagePower technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
MortgagePower partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Third-Party Service ProviderscoreMortgage Power works with third-party vendors and partners including title companies, appraisers, credit agencies, and other lenders to process mortgage applications. These providers assist in loan processing but are not formally named as strategic partners.
Scale indicators2 records
Recent moves4 records
Expansion highlights4 records
MortgagePower competitors and assessment
Company assessmentBroad incumbents
- Caliber Home Loans: National mortgage originator and servicer with a strong product portfolio including non-QM and government loans. Comparable to Mortgage Power in product breadth and customer-segment focus, though operating across multiple states with institutional ownership.
- loanDepot: National retail mortgage lender offering conventional, government, and non-QM products through both direct-to-consumer and partner channels. Overlaps with Mortgage Power in core product offerings and digital application process but at vastly greater scale and brand recognition.
- Rocket Mortgage: Largest U.S. retail mortgage originator with a fully digital application platform and broad product portfolio. Competes with Mortgage Power in the Arizona purchase and refinance market but operates with significantly greater brand awareness, technology investment, and pricing leverage.
- Homebridge Financial Services: National mortgage lender offering a full range of conventional, government, and non-QM products. Comparable in product diversity to Mortgage Power but serves a broader geographic footprint and operates in both retail and wholesale channels.
- NewRez (formerly New Penn Financial): National mortgage lender and servicer offering government, conventional, and specialty products including non-QM. Comparable to Mortgage Power in offering renovation (203K), VA, and self-employed borrower products, though at substantially greater scale.
Direct peers
- PRMG (Paramount Residential Mortgage Group): Independent retail mortgage lender with a comprehensive product suite including conventional, government, and specialty products. Similar to Mortgage Power in being a privately-held, founder-influenced operation offering diverse loan types to retail consumers through agent referrals.
- New American Funding: Mid-sized direct-to-consumer mortgage lender offering a wide range of purchase and refinance products including conventional, FHA, VA, USDA, and non-QM loans. Comparable to Mortgage Power in product breadth and digital application capabilities, though operating at much greater national scale.
- Fairway Independent Mortgage Corporation: Independent mortgage lender with a strong referral-based model through real estate agent partnerships, offering a comprehensive suite of conventional and government loan products. Closely comparable to Mortgage Power in business model, relationship-driven origination, and product diversity.
- Guild Mortgage: Retail mortgage lender with strong specialization in government-backed (FHA, VA, USDA) and non-QM products, comparable to Mortgage Power's product positioning. Serves similar borrower segments including veterans and self-employed, with retail branch presence across the western U.S.
Emerging players
- Angel Oak Mortgage Solutions: Specialty non-QM mortgage lender focused on bank statement, ITIN, and self-employed borrower products. Comparable to Mortgage Power's non-QM product suite (Bank Statement, 1099, ITIN) but operating as a wholesale partner to brokers rather than directly originating for consumers.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights5 records
Customer concentration
MortgagePower social profiles
Digital presenceMortgagePower financial estimates
Financial estimateRevenue estimate
Valuation estimate
MortgagePower leadership team
Management profileNumber of profiles
Profiles1 record
MortgagePower funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MortgagePower M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MortgagePower
What does MortgagePower do?
Mortgage Power Inc is an Arizona-based mortgage brokerage that originates and brokers residential home loans for consumers, including purchase, refinance, home equity, reverse mortgage, construction, and non-qualified mortgage products. The company operates a direct-to-consumer model with online application capabilities via the 1003app platform and supports customers with personalized loan officer guidance under founder Randy Howell.
Is MortgagePower a public or private company?
MortgagePower is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was MortgagePower founded?
MortgagePower was founded in 1993. It employs 11 to 50 people.
Where is MortgagePower based?
MortgagePower is headquartered in Glendale, United States, in the North America region.
How does MortgagePower make money?
Three revenue lines are on record. Mortgage Origination is the primary driver. The others are loan Servicing and refinancing.
Who are MortgagePower's main competitors?
Broad incumbents on record are Caliber Home Loans, loanDepot, Rocket Mortgage, Homebridge Financial Services and NewRez (formerly New Penn Financial). Direct peers are PRMG (Paramount Residential Mortgage Group), New American Funding, Fairway Independent Mortgage Corporation and Guild Mortgage. Angel Oak Mortgage Solutions is listed as an emerging player.
Does MortgagePower have an API?
No public API is recorded for MortgagePower.
What industry is MortgagePower in?
MortgagePower's product category is Mortgage Lending. Its primary akta.pro industry code is FSAEAEAA, Residential Mortgage Brokerage (Purchase & Refinance), with a secondary code of FSALAIAA, Reverse Mortgage Origination (HECM & Proprietary). Its NAICS code is 522310 and its SIC code is 6163.