Corporate Sponsor Spotlight - **NEW**

"Corporate Sponsor Spotlight"


We want to thank Jeff Gay of Southern Trust Mortgage for being one of our 2019-2020 Corporate Sponsors.


As one of our Corporate Sponsors, we sat down with him to ask a series of questions and here is what we learned:

  • How long has Southern Trust Mortgage been in Southern Maryland?
  • How many offices do you have, and where are they located?
  • How many officers are in your firm? Southern Trust Mortgage was established in 1998 and is headquartered in Virginia Beach, Virginia. They currently have seventeen branches all over the East Coast including locations in Maryland, Delaware, North and South Carolina, Georgia, Washington D.C., and Pennsylvania. Jeff Gay has been the Branch Manager in the Prince Frederick, MD location for six years. In addition to Jeff there are four other loan officers. This includes Adam Backes Sales Manager, Erin McDermott, Jessica Courtney and Linda Frick.
  • Do you have any plans for growth that you can share? Southern Trust Mortgage is always looking for skilled and quality loan officers as the housing industry continues to grow locally and nationwide.
  • What challenges is your firm facing?
  • Industry wide? Some of the Challenges Southern Trust Mortgage has seen industry wide is a decline in the housing inventory. Jeff believes that many homebuyers are struggling to find affordable homes despite being pre-approved for loans. As a result, homebuyers are having to delay their purchase longer than they have had to in the past. 

  • Southern Maryland? Some of the challenges that Southern Trust Mortgage face in Southern Maryland is the growing popularity of internet mortgage lenders. Although, using online lenders may be less time consuming, Jeff believes they do not provide the same hands-on attention that a local mortgage broker can provide. Southern Trust Mortgage has prided themselves on building and maintaining relationships with their clients and real estate professionals for decades. As a result, Jeff and his team are able to find the right mortgage program to meet their client’s needs and walk them through the entire process with ease. 
  • What is your view of the Southern Maryland housing market as to expansion or contraction? Southern Trust Mortgage has had the busiest January they have ever seen in the sixteen years that Jeff has been involved in the real estate industry. Jeff feels that an influx of military families moving into the area along with families moving into larger homes has attributed to this increase in the housing market.
  • Beyond? Jeff feels that the housing industry in Southern Maryland will continue to expand as long as mortgage rates remain low and the tri-county area continues to evolve with economic developments. However, He feels that the hefty housing taxes may deter those looking to retire in Southern Maryland and may go to other areas in the nation where taxation is lower for retirees. 
  • What is something you would like to see from SMAR to assist you in your business? Southern Trust Mortgage would like to have more opportunities to communicate to the real estate community about the extensive and unique line of mortgage programs that Southern Trust Mortgage has to offer potential homebuyers.
  • What is the “one thing” you want SMAR members and the public to know about your firm? The one thing Southern Trust Mortgage would like SMAR members and the public to know is that in addition to the traditional loan programs they offer, Southern Trust Mortgage also has unique loan programs. This includes the 5/5 Arm Adjustable-Rate Mortgage with a maximum loan amount of $725,650 and 5% down payment. This program provides the client a fixed rate for the first five years but does not require the homebuyer to pay Mortgage Insurance over the term of their loan. In addition, Southern Trust Mortgage takes a “common sense” approach when underwriting their client's loans. This helps their homebuyers secure the right loan for them. 
  • Is there anything else you want us to know about Southern Trust Mortgage? Jeff Gay would like SMAR members to know that although Southern Trust Mortgage has a broad product line of lending options, his vast experience in the Military, his Veteran “connections”, and dedication to help families secure a VA loan has allowed Jeff to become a VA loan expert. Lastly, Jeff would like everyone to know that although Southern Trust Mortgage is a mid-sized lender they have the big company resources that are often wanted by homebuyers. Including 1-day underwriting, 7-10-day closing, common sense underwriting with “priority approval” and a close-knit family atmosphere where Southern Trust Mortgage truly cares about their clients and the real estate professionals they work with.  

Thank you for your valuable time in allowing us to learn more about your firm, as well as to personally thank you for your investment into SMAR.