To help our members get to know one another, Weekly Report will publish periodic Member Spotlights that feature professionals from across the reverse mortgage ecosystem.
In this issue, we interview Steve Haney, a loan officer with 719 Lending Corporation, based in Colorado Springs, CO. Haney is known as The Mortgage Doctor and has been a member of the Colorado Springs community for most of his life. He has been in the mortgage business for 29 years, both as a broker and an employee of several big banks.
How did you get into the reverse mortgage world?
After the recession of 2007, I created my public image as “The Mortgage Doctor”. I was also looking to reinvent myself by searching out non-mainstream loan products. When I discovered the HECM program, I immediately knew that it was special. I also could see the vision of how it could change the world for the better.
What current topics in the reverse mortgage world are you most focused on now?
What has been your biggest professional challenge/obstacle thus far? Since I am passionate about the RM program I have always wondered how I could reach out and share the program with more people. I decided that radio reaches a much broader audience than just working with individual agents or financial planners.
How did you overcome/handle it?
I found a friend who had a recording studio and put together a couple of hour long radio shows focused only on mortgages. Then it was just a matter of sending copies of the show to different stations and inviting them to listen. Because of being on the air, I have been able to help people all over the country.
What do you consider to be your greatest accomplishment in your career to date?
The Mortgage Doctor radio show.
If you could offer one piece of advice to someone who wants to get into the reverse mortgage world, what would it be and why?
You have to be willing to work with seniors who take a lot longer to decide if it is the right program for them. It often takes months to create a relationship of trust and to get a loan closed. If you are willing to put in the effort, you can literally help change the world for the better and to create peace on earth one family at a time.
Who has been a mentor to you in your career? How has their work impacted yours?
Todd Duncan is my mentor/trainer. He has helped me create my vision of the business. My mission is not my commission. My mission is to help families create peace and stability at a time in their lives when they need it the most.
Why did you become a NRMLA member?
NRMLA represents trust and I wanted to be a high trust loan originator who associates with high trust companies.
What do you like to do in your spare time? Do you have any hobbies or pursuits?
Fishing is my passion. Every year I catch and release over 1,200 fish.
What do you love most about working in the reverse mortgage industry?
I love seeing the tears in the eyes of my clients when they realize that they no longer have to make a house payment.