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Another company that said it has been expanding is Atlanta-based Southeast Mortgage of Georgia. Southeast found opportunity because it survived the downturn while others did not, said president and CEO Cal Haupt.
“It pretty much left us in a very unique position in Georgia,” he said. “We always stayed focused. We didn’t chase the reverse mortgages, we didn’t chase the option ARMs. We really didn’t chase the subprime. Our business has been built on referrals and.. service. It really put us in a very, very good position with a clean balance sheet.”
Expanding on his thoughts about how to contend with tough times, Haupt noted that he has weathered a few of them. “Recessions are part of the economy and when one of them passes, go ahead and start the clock because there will be another one in seven or eight years,” he said. “We try to time those as best we can, but you don’t know what the trigger is--everyone seems to have a different trigger. Every time, there’s always an opportunity. You’ve just got to know where to look.”
As far as adding offices, Haupt said his company “is not just adding them to add them. We’re adding them strategically to areas we want to be in because we’re focused in on where the Realtors and the builders are.”
- Bonnie Sinnock & Brad Finkelstein
Helpful Blog: http://southeastmortgage.blogspot.com/