With a pandemic causing Americans to stay in their homes and struggling to pay their bills, South River Mortgage is working towards a better future for the senior community. As they grow their business they are growing the opportunity for American seniors to increase their quality of life and enjoy their later years. South River Mortgage is the nation’s leading broker focused exclusively on the reverse mortgage space, fighting to overcome the odds by building an honest process centered around financial stability and comfort for older Americans.
President and fellow South River Mortgage team member Tyler Plack was interviewed after a mile marker of growth was recently passed at South River Mortgage. Plack reflected on South River Mortgage’s achievements and growth but is not settling yet.
South River Mortgage is breaking boundaries as they have grown over 200% in the last six months. They intend to continue their business expansion and change the culture of reverse mortgage loans.
While many people hesitate at the reverse mortgage process, South River Mortgage wants borrowers to understand it is all about who you are working with.
When asked how they are working to keep an honest business, Plack replied, “Our loan originators are honest upfront. We always hand out quote packets and make sure our borrowers complete counseling with a third party. These are checks and balances to make sure the borrower is getting accurate information. We use a third party for this to remain transparent and honest.”
South River Mortgage prides its business on its honest values as it furthers their business. What drives this hard-working company further is its dedication to helping older citizens receive a quality life and enjoyable retirement.
When asked why a reverse mortgage is an important consideration for senior citizens, Plack explained why it can be beneficial to their well being.
Plack stated, “A lot of older people go into retirement, and their income begins to decline. Most of their income goes towards their mortgage. Some can try to refinance, but not everyone qualifies. We offer the opportunity to cash out from an open line of credit or line of payments. They can live a higher quality of life and increase their income.”
South River Mortgage are qualified mortgage brokers who can offer more options than going through a lender. Plack was asked why a potential borrower should choose a mortgage broker and what are the benefits of doing so versus a mortgage lender. He answered, “The beauty of a mortgage broker like South River Mortgage is that we shop around for the best program for our borrowers. Lenders are restricted to one loan program. We can qualify them for loans they may have never known.”
Plack expressed how important it is for South River Mortgage to be an honest and reliable source for senior citizens as it provides a better quality of life for them. South River Mortgage is determined to find the best rates for their borrowers.
Still, many people are skeptical about the reverse mortgage process and what all it entails. Even though there are plenty of resources, it can be difficult to discern what is trustworthy and what should be disregarded.
He was asked how he would advise someone who is on the line about a reverse mortgage. Plack said, “They should take a hard look at monthly spending on their mortgage, lower mortgage rates in the market, and the benefits of a reverse mortgage. They should look at monthly cash to quality of life and think about the type of retirement that they want.”
What is next for South River Mortgage? They are looking for new team members to further their abilities to help borrowers. When asked what South River Mortgage does differently as a team, Plack replied, “We are very people-focused in terms of staff and borrowers. We believe in ethics and doing right by the borrower. We make sure to take care of our own people so we can have the best team.”
The energy at South River Mortgage is a true team dynamic. They work together cohesively on making sure that both team members and borrowers are not only at home but treated like family. Providing quality assurance is what allows them to expand their business.
The final question for Plack was about their most recent expansion. He was asked, “What has defined your expansion over the last three months?”
He answered with some recognition of two specific team members who lead the vision of South River Mortgage to who they are today.
Plack stated, “Care from a core group of staff. Jacob Flax and Eric Manley [Senior VPs of Sales] were determined to help and saw the potential. We built up our staff adding friends and business partners to the team. The culture has been so important, with referrals being a great way to ensure that the culture remains in good quality.”
Plack emphasized that their culture is what moves them forward. They want borrowers to understand that they can stay in their homes while remaining financially stable. South River Mortgage hires reliable team members who believe in their ethics and transparency. They are looking to expand further and add to the team to help more senior citizens enjoy their retirement.
If you are interested in joining the South River Mortgage team or have questions about applying for a reverse mortgage, you can contact them at (844) 230-6679 or visit their website today.