Georgetown Mortgage is now “Thrive” Mortgage, and owners Roy and Barbara Jones are delighted with what it means for the company and represents for clients. “We are always willing to go into uncharted territory and innovate for the customers’ best experience,” Roy says. “We are not just punching the clock and hoping for the best. We, and all our employees, want to grab on and live a life of significance.”
The company celebrated 17 years in business in 2018 and they are proud to be part of the growing Georgetown business community. Roy says, “Our company has grown and prospered all over Texas, so we wanted our name to reflect our mission more so than a geographical area. We are so proud to represent Georgetown all over the country.” Thrive employs over 350 people and has grown to more than 50 branches in 24 states.
The company provides a full spectrum of mortgage loans, and in 2012 widened their scope of services by establishing a separate Reverse Mortgage division based in Denver, CO. They are now the top provider in Texas.
“There are a lot of myths about reverse mortgages,” Roy says. “Basically, if you have 50 percent or greater equity in a home you can continue to live there without a mortgage payment. This frees up a large amount of liquidity to purchase groceries or prescriptions or other needs that would normally be tied up in the value of your home. So, even with reduced income, homeowners can maintain their lifestyle and continue to live independently with dignity.”
Their son, Michael, is the CFO, which makes Thrive a true family-owned business. Michael has recently adapted electronic closings, which allows borrowers to close electronically and/or remotely via online platforms. “No one else is doing this; we are the first in Texas to do remote notarization, allowing a client to close the deal from Virginia and save the expense of a second trip before moving. Realtors and borrowers love it because the transaction can be quickly funded and owners can have keys in-hand within minutes.”
Roy adds, “Digital platforms are where we are unique. For instance, we have been pioneers in Construction-to-Permanent financing. We provide up to 95 percent of the loan during a custom home build, and we allow the buyer to lock in their loan rate before they shop for a property, or they can ‘float down’. Customers are protected today and if rates drop, they’re even better.”
Thrive has also rolled out a new manufactured housing product that only a few lenders are using. “Housing is rapidly becoming unaffordable,” Roy says. “Millennials starting families would like to have homes and even here in Georgetown, the average price is about $330,000. But manufactured homes have come a long way in construction and cost about $175,000. The market grew by 20 percent last year and we believe it is under-served. These homes are nicely appointed and even come with real estate. The walls are stronger and so are we.”
Thrive also recently hired Randall Gillespie as National Sales Manager. Of his first week of work Gillespie says, “I have been in the business 26 years and I love how big-thinking Thrive is while still having a small company feel. I love helping people and getting paid for it.”
Gillespie says he appreciates the company’s ability to incorporate expert technology services without losing the personal touch. “Your home is a wealth-builder and biggest asset. You have to be able to trust the people helping you acquire it.”
Thrive Mortgage supports a wide variety of charitable causes and strongly encourages branch locations to give back to their communities as well – whether through charitable fundraising or volunteering. Although Roy and Barbara are actively involved in the day-to-day operations, they give the credit to their wonderful, dedicated employees, often commenting that “…our employees have built this company – they don’t work for us, they work with us.”
Their faith-based philosophy of treating people fairly, being personally involved with their employees and providing a fun, motivating workplace is what drives Thrive’s collective vision to become a “national, legendary mortgage company!”
More about Survive or THRIVE at ThriveMtg.com
