Cherry Creek Targets Reverse Mortgage For Purchase, Hires Kauker

Cherry Creek Mortgage Co.’s reverse mortgage division announced on Friday the appointment of Patricia L. Kauker as corporate training coordinator as part of the company’s efforts to increase Home Equity Conversion Mortgage (HECM) for Purchase education. 

Kauker will be responsible for managing and cultivating the 1st Reverse Mortgage USA Training and Development Program and will also facilitate professional development curricula and training materials.

Her hiring is part of a concerted effort by Cherry Creek for reverse mortgage education, and particularly the HECM for Purchase program. Cherry Creek had an ‘a ha’ moment after realizing that boomers will likely drive the housing market for the next five to 15 years, says Tim Harder, vice president of business development at 1st Reverse Mortgage USA.

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“The builders that are going to survive and thrive will be working with 55+ communities,” Harder says. “They all recognize there is a need for the ranch-style home and the ability to adapt for wheelchair mobility access.”

The key is education, Harder says, whether it’s educating the home builder, the real estate agents, or the new home buyers. 

1st Reverse Mortgage USA launched its training and development program in March and has already trained members of the 1st Reverse Mortgage USA Lender Network across the country.

As training coordinator, Kauker, who brings more than 27 years of experience in the traditional mortgage banking and reverse mortgage industry, will work on advancing and expanding the training program along with create other training and development initiatives. 

The HECM for Purchase program currently represents as much as 12-15% of 1st Reverse Mortgage USA’s business and is growing on a monthly basis, according to Harder. That growth happens through education, consistent sales calls, and identifying partners who are willing to a rapt and make changes to survive, he says, adding that training is “absolutely” a component.
 
“Training members of the 1st Reverse Mortgage USA Lender Network will not only accelerate their growth, but will also accelerate the growth of 1st Reverse Mortgage USA, providing our clients with enhanced customer service,” says Harder. “We strongly believe that this new role is a critical function for 1st Reverse Mortgage USA. This key position reinforces our philosophy of what separates reverse mortgage lenders is their knowledge, experience and attention to the detail so that makes the program easy to understand and the process simple.”

Written by Alyssa Gerace and Elizabeth Ecker

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