Family-owned business prides itself on customer service

In the past 100 years, there have been a lot of changes in the local housing market.

Even so, Standard Mortgage Corporation not only remains standing. It’s growing.

The family-owned company based in New Orleans and with a branch in Shreveport was founded in 1925. That means a century of helping people finance a home.

“We have been originating and servicing mortgages since that time,” said Chad Gulledge, vice president and manager of the Shreveport location. We go all the way from Colorado to North Carolina — the Sun Belt states — as far as originating mortgages.”

Standard Mortgage, which has an in-house team of mortgage bankers, accountants, underwriters and loan servicing specialists, has been in Shreveport since 2006. That is when it merged with another family-owned business, Aulds, Horne & White. Gulledge has worked for both companies for more than 30 years.

“The customer service,” Gulledge said without hesitation when asked about the advantages of having your mortgage with a family-owned business. “The fact we’ve been (in operation) 100 years. (The company) is not going anywhere. It’s in the family. There are no plans to sell the business, where it would become a corporation. It is a family-run business.

The kids work in the business and have for several generations. It’s not going anywhere.”

Who knew not all mortgage companies were the same? Some are mortgage brokers, and some are mortgage bankers. Standard Mortgage is the latter, meaning it services its loans. Gulledge believes that is very beneficial to you, the homeowner.

“Loans can change hands multiple times — sold from one mortgage servicer to another,” Gulledge explained. “That can be an inconvenience because that includes the transferring of your escrow accounts for insurance and taxes. With us, when we originate the loan, it stays with us. You don’t have to worry about who you’re making your payment to the next month because it’s going to stay with us.”

Family-owned, servicing its mortgages:

Two reasons Standard Mortgage has survived and thrived in the past century.

“Because it is a family-owned business that keeps its mortgages,” Gulledge said. “Whether the economy is good or bad, we’re committed to being here in Louisiana. We’ve seen the ups and downs, weathered all of it, and made it through even stronger. It’s a growing company. We’ve expanded into other states.

It’s just a good, strong company.”

Speaking of having “weathered all of it,” the last couple of years have been unsettled when it comes to home buying. Not as many people are taking out mortgages as they did when rates were at historic lows. But, Gulledge said, Standard Mortgage’s business remains good.

“Interest rates are definitely not where we want them to be,” Gulledge said. “They’re still running in the mid-sixes. That has put a slow down on real estate in general. But as spring comes around, this is the start of the buying season. We are definitely seeing an uptick in business. Truth is, most people buying a house are doing so with the anticipation that they will probably — hopefully — be refinancing within the next year or two once — hopefully — the rates will come down. With rent being as high as it is, it still makes sense for many people to buy now even though the rates are high, just to have a chance to build some equity.”

To learn more about Standard Mortgage Corporation, you may visit stanmor.com.