First Horizon Home Loans pusues legacy of service

First Horizon Home Loans has held the distinction of being No. 1 in loan volume in the Springfield area for the past three years, according to RMS Information Services. In 1998, the mortgage company garnered 7.2 percent of the Greene County market share. In 1999, it hit 8.6 percent, and as of September of this year, First Horizon holds 8.5 percent of the mortgage lending pie.

Stacey Bacorn, branch manager for First Horizon, credits Tommy Ridenhour for the success of the company.

Members of the staff at First Horizon are mourning the loss of Ridenhour, who died in his sleep Nov. 3. They are also working to maintain the high standards of service he set during his years as loan officer and head of the company, Bacorn said.

Ridenhour was often quoted as saying "we want to be your lender for life." Bacorn said staff members plan to carry on the tradition of making and keeping satisfied customers.

Through Ridenhour's guidance, the company went through several transitions to achieve its No. 1 status for residential loans in Springfield.

Ridenhour became a loan officer in the late 1980s. He answered an advertisement from Delmar Mortgage Company and began his business out of the trunk of his car.

His salesmanship ability paid off, and he opened a local branch office for Delmar with one assistant. In 1994, after expanding the Delmar staff by several people, Ridenhour moved to Carl I. Brown Mortgage Company, Bacorn said.

The company was bought out by First Tennessee Bank in 1995, but it retained the Carl I. Brown name until March 2000, when it changed to First Horizon Home Loans. First Tennessee Bank, is still the parent company, but the First Horizon Home Loan division is based in Irving, Texas.

The 12 employees at First Horizon include loan officers, processors and office support staff. Since Ridenhour's death, his assistant, Susan Theroff, has stepped into his shoes as a loan officer, serving his clients and avoiding any interruption in service.

Theroff and the rest of the staff feel strongly about the customer service goals Ridenhour set early in his career. They attribute the growth of the company to his dedication to his clients, and they want to continue to provide that superior service in his honor, Bacorn said.

"Nothing is going to change because of the level of service (Ridenhour) taught us," loan officer Michael Frerking said, adding, "we will carry on the banner as number one in the region."

Another achievement to Ridenhour's credit is the longevity of the staff. "Many employees have been with the company for a long time, which is not typical of the industry. People have stayed with Tommy because he is so charismatic," Bacorn said.

Under Ridenhour's leadership, the office became like an extended family, Bacorn said. In fact, some of the team members are family. Bacorn's sister, Paige Kessler, is loan officer assistant, while loan officer Jerry Palmer and closing manager Lynda Palmer are husband and wife.

Frerking came to the company because of a connection between Ridenhour's family and his own. Ridenhour lured Frerking back to Missouri from California in 1993. Having begun a successful career in the lending business in California, Frerking said he had no intention of moving back to his native Springfield until Ridenhour exerted his power of persuasion.

Bacorn said the team spirit Ridenhour evoked prevails at the office. He treated both colleagues and customers with respect, she said, and that will continue.

First Horizon moved to its current location at 1615 E. Primrose, the building next to Murney Associates, in 1998, Bacorn said. The company services conventional, Federal Housing Administration and Veterans Administration loans. Processing is done locally, and underwriting comes from the home office in Texas, Frerking said.

He added that the Springfield market is still strong and, as a result, First Horizon plans to add two or three loan officers within the next few months.