Reverse Mortgages with Dennis CooperDonna Stancel: Hello, everyone. I'd like to welcome to the Senior Life you Discovery Podcast. And, today we have Dennis Cooper, the Senior Vice president of the HECM [00:01:00] Division of Federal Savings Bank. You're located in St. Louis, aren't you?,Dennis Cooper: Yes, I am. Been here for about 40 some years. Native? Well, practically a Native at this point, but I actually grew up in Pittsburgh. Very similar town. Donna Stancel: I'm a native of St. Louis myself. Tell us a little bit about your background.Dennis Cooper: Well, as I said, I was born and raised in Pittsburgh. Went to school in westernPennsylvania, graduate school, and, I'm sorry, Thank you. College in WesternPennsylvania, graduate school at Kent State. Joined the Air Force. Spent fouryears in the Air Force. Figured out I don't like standing in lines and don'tlike taking orders from other people. So, after four years I got out. I wentback to Pittsburgh. Took a job with an insurance company. And spent about yearswith doing employee benefits. They sold their business to another company.Actually, that's what brought me to St. Louis. I had been promoted to the homeoffice as director of sales. One of my jobs was to [00:02:00] decide where we were going to open new employee benefit offices. I spent two weeks in R and D trying to figure out where there was a market share we didn't have. Went into my boss's office and I said, okay, we should open an office in Birmingham, Seattle, Washington, Charleston, West Virginia, and St. Louis. And, I want St. Louis. He looked at me very strangely and he said, Do you know anything about our history in St. Louis? And I said, No, I couldn't find any history in St. Louis at all. And he said, Bob tried to open the 60s. Bob was our regional director in Los Angeles, very well thought of. And he failed. And then we tried to open the seventies and that man failed. You know, he was, I said, no, I don't know who he was. And he said, that was me both Bob and I failed.But what makes you think you're going to succeed? I said, well, I have a personality. So about two weeks later, I was in St. Louis trying to open an employee benefit office and stay there until they sold their business to another insurance company and finally acquiesced to be going to financial planning, which I did for about 10, 12 years. [00:03:00]Thought I was going to retire early and figured out I can only play golf twice a week. So I got involved in this magic thing called reverse mortgages. So that brings you up to date.Donna Stancel: So all the financial services background, is that what prepared you for doing reverse mortgages?Dennis Cooper: I'm one of those people that have a philosophy that everything you do in life prepares you for the next step in life. And I, I honestly believe that the financial planning history certainly prepared me for using a financial planning tool that's wrapped in a mortgage label. So yes.Donna Stancel: So how long have you been doing reverse mortgages now?Dennis Cooper: About 15 years. Donna Stancel: So, you've got a bit of experience. Yeah, I’ve always heard if you find something that gives you joy, that is your niche. Dennis Cooper: Yeah, Donna Stancel: You're certified to market, these reverse mortgages all over the  country?Dennis Cooper: All 50 states. I work for the Federal Savings Bank, which is certified in all 50 states, which makes me certified in all 50 states.So, I've done them in about 17 states. Still looking for the other 33. Donna Stancel: How does the reverse mortgage

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