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Meet Medardo Alejandro and Medardo Felipe Cevallos of Home FInancial Group in Sunrise

Today we’d like to introduce you to Medardo Alejandro and Medardo Felipe Cevallos.

So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
Prior to moving to the United States, Ecuador was our home for many generations. We built industries in tuna shipping, shrimp exporting, newspapers, and banking; just to name a few. After the dollarization of the economy in 2000 and the economic crisis that came with it, we had to seek out a new home and start fresh. South Florida was the ideal destination and has been our home ever since. Real Estate has always been an industry that has interested us, so, we began to seek out options as to how we can get involved in the economic recovery, post the “.com” bust.

We began as mortgage brokers and rode the “home buying craze” wave of the early to mid-2000s. It was the wild west in mortgages — pretty much anyone with a pulse could get a home loan in those days. We began growing and hired more people, even opened up an office in Orlando; times could not be better. Then reality caught up with all of us. Borrowers began defaulting on their mortgage payments and before you knew it, the Wall Street firms with these assets on their books began going belly up.

The period between 2008-2010 were the toughest years. Everyone in the real estate finance industry was suffering. We had to use up all of our savings to stay alive. We are proud to say, that we never closed our doors and were one of the few mortgage companies in South Florida to do so.

Fast forward to present day, the Real Estate industry has bounced back and the economy as a whole has seen the longest bull market in years. We are now focusing more than ever on providing the best client experience possible and truly making the home buying a great memory in our client’s minds. We began as mortgage brokers in the early 2000s and are now lenders; helping domestic and foreign national clients obtain home financing.

Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
It is known as the Great Recession — the single biggest economic downturn since the 1920’s crash and decade-long depression. Leading the charge on these dark times were the mortgage-backed securities, or “MBS” for short, that was highly risky but insured by the federal government and given the highest possible (least risky) credit rating.

Given the interconnectivity of the global economy, not just the U.S. housing market was hurt but the crisis was felt worldwide. The periods between 2008-2010 were some very tough years, but we were able to reinvent our company and seek out other potential buyers of real estate. We capitalized on the Foreign National Market– a type of client that we represented before the crash but only contributed about 20-30% of our volume. Because real estate prices plummeted, (some even as much as 50-60%), foreign nationals began buying at huge discounts and we were there at the forefront of financing opportunities.

We had great success representing clients buying new constructions in condominiums all over South Florida. So much so, we are preferred lenders for many of the top projects today (including Jade Signature) and many others to come. Every business and industry deals with challenges and disruptions from competitors– that is the double-edged sword of capitalism. The important thing is to anticipate these changes and be able to adapt to any situation. Having come out stronger from the difficult years of the Great Recession, we are now direct lenders, a feat not often achieved by mortgage brokers. Which enables us to directly fund and make prompt decisions on domestic financing options such as, Conventional Fannie Mae and Freddie Mac products, VA, and USDA, just to name a few.

Alright – so let’s talk business. Tell us about Home FInancial Group – what should we know?
We are not in the Mortgage Lending or Real Estate Finance Industry. We are in the people business. We truly believe our business and client relationships are our biggest assets. We strive to facilitate work/life balance for our employees and always put our client’s needs first.

The years have taught us that the product you are offering is very important but the experience and service you offer your clients is even more important. Going through the mortgage process is thought of as a painful event everyone must go through at one point in his or her life. We take the pain away by being upfront with our clients from the beginning and keeping all parties in the transaction in the loop throughout the process; whether it be a domestic buyer, purchasing their first home or a Foreign National Investor buying their tenth income producing the property.

We bring years of knowledge and expertise to the transaction and can offer solutions for every client in any situation. Sometimes that is a long-term solution over a short term, but we give our clients options and assure them that if they follow our advice, the outcome will be certain. We are a family business, not only because we are father and son, but we value every relationship we have and make it a priority to include our employees and clients as part of our HFG family. We see each other as the best teammates possible. We have complementary qualities that are helping us grow the company, which will allow us to employ more people in the community and help more clients achieve their dream of homeownership.

Is there a characteristic or quality that you feel is essential to success?
Putting our clients best interest first will always prompt for a good decision. At the end of the day, it’s not about how much money you make, it’s about how many people you can help. That is the reward that will be truly lasting. Our motto is “Sucipere et Finire” which is Latin for “To undertake and to finish”. every transaction we do, we do it well from beginning to end.

Industries are being disrupted all around us. Taxis with Uber and Lyft, Hotels with Airbnb; you name it. The mortgage industry is not safe from this either. We have seen companies, such as Quicken Loans; introduce their online platform for a mortgage. At first, we thought this was going to affect our business, but in reality, it has brought us more customers. We pride ourselves on providing technological efficiency when it comes down to processing the transaction. But we also provide a hands-on approach, every step of the way. It’s the best of both worlds. The convenience of technological tools mixed with the human touch. That is how we are able to stay competitive and evolve, in order to better serve our customers.

We are proud to say we offer our services in Spanish and Portuguese as well. This enables us to help a wider array of clients from all over the world. We have helped many international investors that do not speak English, obtain financing for their real estate in Florida. Staying flexible with language and culture is key to success; especially in the intertwined global world we live in today.

Pricing:

  • We are offering a FREE consultation to any prospective buyer. We hold our consultations, in person, over the phone or via skype/video chat. This initial conversation will help us understand your situation and we will offer the best possible solutions and options.

Contact Info:


Image Credit:

Michaela Lemoine

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3 Comments

  1. Luiz Cent

    December 8, 2017 at 10:36 pm

    Love stories like these, thanks for sharing this great info about a company that helps people achieve their dreams of home ownership! Love the photos

  2. Medardo A. Cevallos

    December 9, 2017 at 1:38 pm

    Thank you, Dan and all of the staff at VoyageMIA for publishing this amazing article! It is great to see a local business with a wide audience of readers, help other small businesses thrive and get their name out there.

    I welcome any follow-up questions readers may have for me or my father; I will be happy to answer them on here or any other means of communication mentioned above!

  3. Alejandro R Tovar

    December 30, 2017 at 12:55 am

    Muchos éxitos, prosperidad y bendiciones.
    Alejandro R Tovar

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