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Dan Mudd

VP of Mortgage Lending/Reverse Mortgage Specialist
1240 Iroquois Ave, Ste 300, Naperville, IL 60563
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NMLS: 224034
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Dan Mudd was fantastic. The process can be overwhelming but Dan takes the time to sit down and explain everything. I never felt rushed. Dan was extremely patient and answered all of my question.

Diane S. - 9/27/2016

I felt that Dan Mudd was very professional and his staff was really good.

Lana N. - 9/7/2016

My experience with Guaranteed Rate left me extremely happy. Dan Mudd and his team went above and beyond to serve our needs. We had a bad experience with a different company and truly feel that Guaranteed Rate is the only lender that could have taken care of our loan.

Ronald H. – 8/15/2016

I was on the Internet looking for a company to try and get my wife and I a reverse loan. We had just found out that the people that previously took our application were not able to finish the last two steps, saying, after 6 months, that they just could not do it so I began the search again in earnest. It was nearing midnight and Dan introduced himself via email, and we began the process with Guaranteed Rate. Dan was an outstanding individual in helping us apply for a reverse mortgage. Did not...

Gene K. – 7/21/2016

Dan would return my phone calls right away. Everyone was very nice and polite. We were very pleased with him. We are very satisfied and would definitely use him again.

Ruth K. – 7/1/2016

I want to acknowledge and thank you for the efforts you made in behalf of my client. I am grateful. You conducted yourself professionally and were extremely helpful in arranging for a solution to my client situation. I look forward to working with you again. Thank you!

Pat C., Financial Advisor – 6/7/2016

Dan Mudd was great! Everyone was wonderful to work with and helped me out as much as possible. Dan went above and beyond during my loan process. I cannot recommend him any more!

Nicholas D. – 5/13/2016

Dan and I have worked for over a year to close and fund a reverse mortgage. It was a long year but Dan was always upbeat, steadfast and professional. I put my trust in Dan Mudd’s hands. He was reassuring and confident that things would come together and that we were going to get approved and close. Dan Mudd is more than asset. He is persistence, knowledgeable and effective. His mortgage and people skills coupled with “can get it done” attitude made a major contribution to the closing and...

Linda B. – 2/23/2016

The process is done; it happened and I am very happy that you were there to help me. Dan and his team were great!

– 3/3/2016

I would like to make a glowing report on the services performed by Dan Mudd. I was denied refinancing by a traditional bank because of divorce and credit report fallout due to the divorce. Nonetheless, Mr. Mudd was instrumental in navigating the new HUD regulations for the reverse mortgage in 2015. I would recommend Mr. Mudd for a merit badge and I am certain there are other individuals out there that would have the same requirements as myself.

Joseph B. – 12/23/2015

Dan Mudd went out of his way to help us get this loan. Everything he said he could do, he did very professionally and courteous. I really liked the fact that he explained everything so you understand what he was talking about. I would highly recommend him to everybody.

Deborah H. – 4/20/2016

Dan interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
I entered the finance industry back in 2002 and enjoyed working with first time home buyers fulfilling their goals of home ownership. It was very rewarding working with clients in their pursuit of home ownership. In 2005, I became intrigued with the reverse mortgage. For the next 2 years I worked in both “forward” and reverse mortgages. Since 2007 I have been an exclusive reverse mortgage consultant. I found the reverse mortgage industry was the most rewarding and enjoyable. I completed my own Mom’s reverse mortgage back in 2008 and she continues to reside in her Arizona condo with no payment and extra money in her investments. I have had the most success working with my clients for 62 to as old as 96. I have sat with and closed hundreds of reverse mortgages. I have been able to help clients eliminate mortgage payments, receive a monthly income for life or just open up an equity line for peace of mind and emergencies.
Tell us about a mortgage product that consumers may not be aware of?
The reverse mortgage for purchase! This by far is the hidden gem of the reverse mortgage industry. Clients can downsize into that ranch townhome, condo, or retirement dream home and keep more cash in the bank or investments. This product allows seniors 62 and older to make a purchase of property which could be a single family home, townhome or FHA approved condo and only use 50% their money and 50% on a reverse mortgage. This growing product is gaining market share as over 10,000 people a day are turning 62 and will be for the next 15 years.
What are the top 3 misconceptions people have about the home loan process?
First, it’s your home. You stay on title, you own the equity. You can sell the home at any time without a prepayment penalty. If you want to stay in the home life and still own the home.

Second, you don’t have to have a mortgage to obtain a reverse mortgage. 60% of my clients have no mortgage and haven’t in years. They are just looking for a way to supplement their lifestyle. Maybe let the reverse mortgage pay the taxes and insurance on the house out of a reverse mortgage equity line. Sometimes they are just looking for additional monthly income.

Third, once you obtain a reverse mortgage, Mom and Dad (if your married) can stay in the home until they BOTH permanently move out of the home. If Mom passes, Dad stays in the house, if Dad passes Mom stays in the home. They just have to maintain taxes insurance and maintain the property. They can never “use” all of their equity and be asked to leave.
What provides you with the most satisfaction in your job as a Loan Officer?
I spend most of my time across the kitchen table at Mom and Dad’s house assisting them and their grown children in understanding the truth about the reverse mortgage. I enjoy educating seniors about the truths and myths about the reverse mortgage. TV ads and out of state salespeople over the phone don’t really answer all the specifics on a reverse mortgage. Most of my clients face to face questions and answers.
Tell us something that makes you unique or something wacky, yet interesting about you?
My wife and I have 5 kids. My oldest is 28 and my youngest is 13. Much of my free time is spent on a baseball, basketball or football field or at a cheer or dance competition. My wife and I serve on a couple committees for Catholic Charities as well as the BGYFL youth football board. I have worked with Catholic Charities as a referral source and continue to promote reverse mortgage seminars at local parishes.

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