Part 2: Exclusive Interview with Dan Harder of 1st Reverse Mortgage USA
In the conclusion of our interview with Dan, we discuss the following:
- Is there a lack of demand for reverse mortgages?
- Why he believes traditional lenders will account for the majority of HECM volume
- The approach used in training forward loan originatorsDan Harder is vice president at 1st Reverse Mortgage USA, a division of its traditional mortgage lending parent company Cherry Creek Mortgage.
6 Comments
Great interview Shannon. I believe Dan is absolutely spot on.
I am less enthusiastic.
We are in the midst of seven straight years of secular stagnation and there is nothing to show that fiscal 2019 will not end the hill to valley pattern and start the valley to lower valley pattern. The inventory for case number assignments that will most likely become endorsements this calendar quarter (ending 12/31/2018) looks to be a little over 14,000 and with a conversion rate of 64%, this quarter will end with about 9,000 endorsements. What a way to start the new fiscal year and terminate calendar 2018! The question is will our total endorsements this fiscal year exceed 48,000? Some of us really doubt it.
If you have any numerical corrections, please provide them and please tell us why you so wholeheartedly support Dan’s position. In the last ten years, it is hard to figure out why our industry leadership is so overly optimistic. I support positivity but not at the loss of being realistic.
Excellent interview! Thank you so much for this interview, and like all of your others such an asset to our industry!
Thank you, Linda. Much appreciated!