Lenox Financial was founded on three basic premises: (1) stellar customer service (2) a fiduciary relationship with the customer that had never existed before in the mortgage industry (3) eliminate closing costs and become the largest no closing cost mortgage provider. In order to accomplish these goals, Jon Shibley immersed himself in the intricacies of the mortgage business, re-engineering and mastering a mortgage business model unparalleled in today's mortgage market place. After more than 15 years, over 13 billion dollars in closed residential mortgage loans, and a savings to customers of over 250 million dollars in closing costs through our no closing cost mortgages, those initial goals have been achieved.
In the early years, Lenox Financial operated much the same as any other mortgage company. The No Closing Costs Mortgage concept was so revolutionary that it took a long time to convince people that that program wasn't "too good to be true." People were accustomed to spending thousands of dollars in closing costs, regardless of the fact that their lender was making hundreds of thousands of dollars in interest on a typical home loan.
It took years of educating the consumer, gaining trust, and refining our business model until Lenox Financial's innovation paid off time and again.
The now widely copied Lenox Financial No Closing Cost Mortgage program was combined with another Lenox Financial first, real estate mortgage management, to form an even more fundamental change in the mortgage industry: a strategic, fiduciary relationship between the client and mortgage company.
In order to make a positive change in the real estate mortgage industry and achieve national prominence, an outstanding team of diverse individuals was needed. Hand-selected from within the organization were people with proven leadership, ethics and integrity to serve as company directors. Afterwards, dynamic, passionate people from all walks of life were sought out and trained the "Lenox Financial way". Often our best representatives were former clients, who had seen our residential mortgage operation from both sides, as a home mortgage consumer and a home mortgage lender.
Lenox Financial's philosophy is to build an elite team of real estate mortgage managers from the most talented individuals throughout various industries, continuously train and update their skill-sets and allow them to expand their mortgage operations nationwide.