Atlanta Home Loan 1
Atlanta Home Loan Case Study
Accounting 6302
Dr. Sullivan
Ashley Herrera
Atlanta Home Loan 2
Executive Summary
Atlanta Home Loan was a leading mortgage and finance company that is based in
Atlanta, Georgia. The company was founded by a man by the name of Al Fiorini with an initial
investment of $40,000. Al started the operations from his home. Al has had many years of
experience in the mortgage banking industry and also served a year being the president of the
Orange County Chapter of the California Association of Mortgage Brokers. With the experience
that Al has the business grew quickly in its first quarter of operations. It has been on Al’s mind
about going back to school to earn his MBA, and in June 2012 he was admitted to the executive
MBA (EMBA) program at the University of Southern California in Los Angeles which he
decided to register. He also considered opening another mortgage lending company while in
California. The first thing that had to be done before he was to move to California was to
determine what would be done with Atlanta Home Loan whether to sell it, find someone to run
it, or to shut it down. Al finally decided that the company had potential to grow and that it was to
profitable to sell, and so that meant that he would have to find someone to run the business while
he was gone. It took awhile before Al thought he found the right man for the job and that man’s
name is Wilbur Washington. Wilbur like Al has experience in the mortgage banking so he would
also be working with those skills as well as taking responsibility interviewing, hiring, paying the
expenses of running the office, and managing the staff. Al and Wilbur signed a written
partnership and licensing agreement. Al thought that he could have trusted Wilbur as well as this
present staff and that they follow his protocol about running the business but as it turned out that
wasn’t the case. Wilbur would hire new staff when Al specifically told him not to, taking out
money that was said to pay employees when it wasn’t run through payroll, and even the point of
having a third person go to the office to fire the staff but have failed so in all Al has lost his
