Aulds Horne & White / Standard
Mortgage company gets a new face lift and continues same focus
In the 61 years that Aulds, Horne & White ‚Äď now Standard Mortgage Corporation ‚Äď has been in business, the basics of getting a home loan haven‚Äôt changed.
Your employment and income have to be verified. Your credit report has to be pulled. An appraisal on the property you want to buy must be ordered.
However, the way ‚Äď and speed ‚Äď in which all of that is accomplished has changed.
A lot. ‚ÄúTechnology,‚ÄĚ Jim Griffith doesn‚Äôt hesitate to say when asked how the mortgage business has changed. The vice president/branch manager of Standard Mortgage Corporation‚Äôs Shreveport office is in his 40th year in the profession.
‚ÄúWhen I started out, we would have basically a bullpen of typists,‚ÄĚ Griffith said. ‚ÄúWhen an appraisal request would be sent out, you would type up a request and mail it out. You did the same thing for a credit report or verification of someone‚Äôs employment. All of those items were usually mailed out. Then, we got into fax machines, and that sped up the process. Now, the credit report is done instantly ‚ÄĒ we get that back. Appraisals are done online also. We get those back soon. We‚Äôre doing the same functions, but it‚Äôs a lot quicker.‚ÄĚ
Aulds, Horne & White began in 1957.
The company did one thing and one thing only: wrote single-family residential loans. In 2006, Aulds, Horne & White‚Äôs owner, Henry Voohries, retired and sold the business to Standard Mortgage. But even with new owners, the company‚Äôs focus has stayed the same.
‚ÄúThat‚Äôs what we do, so we‚Äôre not distracted about other things,‚ÄĚ Griffith said. ‚ÄúA home purchase is not an impulse-type purchase. It requires some advice, some counseling, on what type of mortgage product you need for a 30-year loan, especially for a first-time homebuyer. So it‚Äôs the people involved ‚ÄĒ the loan officer that‚Äôs helping you with the process. It‚Äôs not where you push a button, and your home loan is approved, and you don‚Äôt need to know anything else about it. You do need to know about it.‚ÄĚ
Having a singular focus is one of three intangibles that have provided the foundation of Aulds, Horne & White/ Standard Mortgage over the years. Another intangible is its employees.
‚ÄúWe have an experienced, professional staff of people that have been here and in the business for a long time ‚Äď most of them 20 or 30 years,‚ÄĚ Griffith said. ‚ÄúWe have a dedicated staff of people.‚ÄĚ
The company‚Äôs third intangible is the fact that it keeps your loan local.
‚ÄúWe service our own loans,‚ÄĚ Griffith explained. ‚ÄúAll of our conforming loans we service. In other words, you make your payment to us. We don‚Äôt sell the servicing of your loan to a big wholesaler, so when you have questions down the road about your payment or your mortgage ‚Ä¶ chances are the person you‚Äôre going to call is the person who made you your loan. We‚Äôre going to help you through that process.‚ÄĚ
Standard Mortgage is 93 years old and is the largest privately owned mortgage banking institution in Louisiana. It has eight locations throughout the state, including a home office in New Orleans. In those locations work 110 employees ‚Äď nine of them in the Shreveport office.
Before selling to Standard Mortgage, Aulds, Horne & White only wrote loans in Louisiana ‚Äď specifically Northwest Louisiana. However, Standard Mortgage is licensed in other states. That means just because you move out of Louisiana, you don‚Äôt have to give up your loan company.
‚ÄúWe‚Äôll have people who maybe live in East Texas but work in Shreveport, or they‚Äôre moving to Dallas and would like to continue a home loan with us,‚ÄĚ Griffith said.
Most real estate agents will tell you the bulk of their business comes from referrals ‚ÄĒ past clients who tell others about their positive experience. The same is true for mortgage companies. That‚Äôs why Griffith and his staff value each customer.
‚ÄúWhen we make a home loan to a couple perhaps, they‚Äôre going to possibly tell their co-workers, they‚Äôre going to maybe later on buy another house, they may be refinancing, later on their children are going to buy a house. We‚Äôve been in business so long, we‚Äôre making loans to people‚Äôs children and grandchildren.‚ÄĚ
Griffith admits he isn‚Äôt sure what changes are ahead when it comes to the mortgage industry. But he is confident of what the future holds for Standard Mortgage.
‚ÄúI only see good things for the company. We are certainly dedicated to this area. This is our business. We will be here.‚ÄĚ
To learn more about Standard Mortgage Corporation, you may visit www.stanmor.com.
‚Äď Tony Taglavore