role. Soon after, I was approached by Paul and Barbara Franklin, who were longtime participants in the reverse mortgage business. I didn’t know much about reverse mortgages. I had heard things and was skeptical, just like most people at first. The Franklins said they really needed help with their business and thought I’d be a good fit. For the next three months, I did my research and found that it was a viable product and solution for many people. I took the dive in 2007 and switched gears from healthcare administration to reverse mortgage financing. RM: People come and go all the time in this business, but you’ve stuck it out through good and bad times. What has attracted you to reverse mortgages all this time? DH: We help people. I love being able to help someone solve a problem. Our clients run the spectrum as far as their goals and objectives with this product, but at the end of the day, we’re providing a solution that solves a problem. That is why I’ve stuck with reverse mortgages for almost 17 years because at the end of the day, it solves problems. RM: Have you seen any changes from 2007 to now for why someone pursues a reverse mortgage? DH: I can put a client in one of three categories: needsbased, lifestyle enhancement or financial security. That hasn’t changed much since 2007. For a time, I was seeing more affluent borrowers. That has waned a little bit over the past year and a half, but my clients still fall into one or a combination of those three categories. RM: What do you mean by lifestyle enhancement? DH: When I put somebody in a lifestyle category, they’re either wanting to maintain a lifestyle that they enjoy, or they want to achieve a lifestyle that they’ve never had. Maybe it’s a dream vacation that they could never afford. Most of the people I work with use a reverse mortgage to maintain a lifestyle that they once had and wish to maintain while living on a fixed income. RM: Tell us about Homegrown Financial and what distinguishes it from other mortgage brokers. DH: I make it clear to every potential client that I am a reverse mortgage expert who is here to help get them from Point A to Point B, but at the end of the day, you need to have peace of mind with the product itself. I tell people point blank that if doing this loan causes them to lose sleep, then they need to find another solution. That has always been my stance from the beginning. I learned that from Paul Franklin, obviously a big mentor of mine. I’m not here to sell anybody on a reverse mortgage. I’m here to educate them on the reverse mortgage and then help them with my expertise get through the process as quickly and as painlessly as possible. At the end of the day, my post-closing interactions with clients and their children, even when the loan becomes due, have always been good. I haven’t experienced any backlash. I think that’s probably because I’ve never tried to fit somebody into a reverse mortgage who wasn’t suitable. RM: How many people are part of the reverse mortgage team? In how many states do you offer reverse mortgages? Do you offer other loan products or just reverse mortgages? DH: It’s a small group. There’s me and one other loan officer, Gary Landon, who’s in the Beaufort-Sun City area, which is heavily populated by seniors. We also have Julie Moxley as our in-house processor. We only originate in the state of South Carolina, which is by design. I see no reason to dip into bordering states at the moment, and I certainly don’t mind giving referrals out to other CRMPs in other states. RM: Are there particular approaches to marketing and lead generation that you have adhered to over the years, or do you try different things depending on what’s going on in the marketplace? DH: I’ve tried everything, and I say that laughing because we all know there is no silver bullet with marketing this product. It’s all about walking and talking, meeting people, and becoming a trusted referral source. I’ve built a sizable network over the course of my career to the point where 90 percent of my business comes from referrals. I send mailers from time to time when it’s appropriate, certainly during From the Top continues on page 10 From the Top REVERSE MORTGAGE / JANUARY-FEBRUARY 2024 9
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