Dan Tran founded Transcend Mortgage Inc. with a mission to revolutionize the traditional mortgage process. Working with first-time buyers, jumbo buyers and property investors within the Boston metropolitan area, as well as the North and South Shores, Tran matches clients with the right loan solutions for them and claims an average closing time of 19 days.
“I only partner with lenders that utilize cutting-edge technology and can deliver one-day initial underwriting, one-day condition clearance and same-day closing package,” he explains. “This means that if a customer turns in an application to me today, I can give that customer an underwriting approval tomorrow. And I can do this consistently, not a hit or miss.” Tran is exploring chatbot and Artificial Intelligence (AI) to see if these future technologies can make the lending process even more efficient. “I’m not saying that humans will be removed from the lending process, but e-lending is already here and AI is next.”
Prior to starting his own firm in 2016, Tran worked as a stock market analyst before transitioning into mortgage origination and joining Wells Fargo Home Mortgage in 2012. In 2013, he received the New England division’s Rookie of the Year Award. “That gave me a boost in confidence and a reason to stay in the business,” he says, adding that he also received the National Association of Mortgage Brokers’ KickStart in 2016.
Hailed for his attentiveness, Tran reviews each client’s income, credit history and existing assets to create a plan that works for their individual needs. As a property investor himself, Tran is intimately acquainted with the market and provides his investors with financial analysis of income-producing properties.
Tran is a member of National Association of Mortgage Brokers, the Association of Independent Mortgage Experts and the Asian Real Estate Association of America. He is a regular volunteer lecturer at VietAid in Dorchester, leading workshops for first-time homebuyers to prepare them for navigating through the process of buying their dream homes.