Mortgage firm has local roots

April 2017

Trenton resident Dan Burke (left) and partner Harry Glanz at the company’s Southfield headquarters.


Trenton resident Dan Burke may be the co-founder of a high profile and highly successful Detroit area mortgage company, but he’s never been known as one who strayed too far from his roots as a regular guy from Downriver.

Burke is the co-founder of Capital Mortgage Funding based in Southfield. He and his business partner, Harry Glanz, formed the company in 1992. Originally from Lincoln Park, Burke graduated from the former Southgate Aquinas High School in 1982. He went on to Eastern Michigan University and graduated with a degree in finance.

After college, he met Glanz when they both worked at a different mortgage company. They started their own business because they wanted to be able to personalize the mortgage experience.

We started the business by taking care of one family at a time,” said Burke.

Both partners are hands-on in the company. Burke works as a mortgage originator, working with borrowers to complete the loan transaction. Glanz refers to Burke as “the best originator in Southeast Michigan for the last 25 years.”

Glanz manages and runs the day-to-day operations and does everything he can to “make sure everything is all good.”

We can’t have a big bank mentality,” he said. “It’s no different than any other customer service business.”

At Capital Mortgage Funding, clients will work with the same originator throughout the entire loan process. The originator will analyze the needs of each client individually. In addition to Burke, the firm employs 22 originators and 28 other staff members. They are licensed in all 50 states, but Southeast Michigan is their home.

One of those originators is George Berger, a 2004 Trenton graduate. Also a graduate of Western Michigan University, he began working at the firm four years ago. He enjoys his job and helping people succeed. He feels that a big part of his job is to help clients figure out what payments make sense.

I want to make sure everything works for them financially.” Berger said.

Capital Mortgage Funding is different from most lenders in that they are their own bank, so they lend their own money. Also, unlike traditional banks, home mortgages are the only thing they do. They pride themselves on the fact that they are still around when many of their competitors are gone. During the housing downturn in 2008-2009, they didn’t suffer like many companies.

We never did sub-prime loans. That’s why we’re still around. We run a clean ship,” said Glanz.

Burke and Glanz are proud to be celebrating Capital Mortgage Funding’s 25th anniversary this year.

The firm is also involved in the community. Glanz is a creator of the Hardcore Mortgage and Real Estate program on 97.1 FM that airs Saturday mornings from 9-10 a.m. The program, which has been on the air for 17 years, is a consumer advocacy show that gives honest answers to questions about the real estate industry posed by listeners.

The Michigan housing market is strong, according to Glanz.

Consumer confidence is high and home property values have increased substantially,” said Glanz. “Although interest rates have gone up, it’s still a positive rate environment and quite conducive for vigorous home purchase activity for the year 2017,” Glanz said.

Burke said Trenton is a great example of the market. Houses are going quickly — some within days of coming on the market. The schools are good and it’s a “large, small community.”

Burke has made Trenton his home since 2003 and has raised his family there. While he could make his home in the wealthier cities of Oakland County, he chooses to live a simple life Downriver. His sons Tyler and Brandon are Trenton graduates. His daughter Ashley is a junior at THS and a member of the soccer team. His son Nicholas is a student at Arthurs Middle School and is one of the school’s contributing writers for the Trenton Trib. He also plays “every sport,” according to his dad.

Burke spends a lot of time with his wife and children, attending their various activities. He also enjoys golf and traveling.

My wife and I enjoy warm weather, and we’ve been everywhere from the Caribbean to Cabo,” said Burke.

Burke sees honesty and his commitment to customer service as the keys to his success, and the success of the firm.

I’m an open book. What you see is what you get. I’ll always be honest with my customers.”

Dan Burke, Harry Glanz and George Berger can be reached at Capital Mortgage Funding at 1-800-Low-Rate or

BLOG: Strong Home Sales to Continue in 2017

By: Harry Glanz

Co-Founder Capital Mortgage Funding

Published: Friday, March 10, 2017

The consistently strong home purchase market has certainly been a focal point for the past few years with sales and prices continuing to rise. Since 2012 the housing market for metro Detroit, and for that matter the entire state, has remained strong. I am quite confident that the housing market will continue this solid trend for 2017, even with a slight rise in mortgage rates.

Home sales have increased steadily from 2012 to 2016, according to Michigan Realtors residential sales statistics; for Ann Arbor, Detroit, Livingston, Oakland, and Macomb counties. Data indicates home values have also increased consistently and in almost all of Southeast Michigan considerably from 2012 to 2016. Most home values have nearly reached pre-recession levels and some have even surpassed them. According to a Realcomp II Ltd. report for southeast Michigan, 2016 had an increase of closed sales by 3.4 percent from 2015 and more than any year in the previous five.

Home prices rose 6.3 percent from the previous year and the number of house showings increased 16.7 percent. However, listings have decreased and low inventory will be the rule for 2017. Millennials are rapidly flexing their muscles as the next big age group of home buyers, but they are waiting until relatively later in life to buy. Baby boomers are expected to make up one-third of all buyers in 2017. Sellers have received 96.9 percent of list price received at sale, an increase of 0.5 percent; and since sales prices should continue to rise, so will increases in list price received.

Consumer confidence is high, home property values have increased substantially, and the buzz of buyers is infectious. In my opinion, now is an excellent time to be in the housing market. Even though interest rates have gone up since the election, with all of the positive economic news, we knew that interest rates were not going down to zero. Rates do have to go up and if you take a look historically, when you have a 30-year rate in the low to mid 4 percent range and a 15-year rate in the high 3’s, I say that’s a positive interest rate environment and quite conducive for vigorous home purchase activity for the year 2017.

The energy and attitude in the market is that if the home is properly presented, it’s going to have multiple offers that could result in bidding wars this spring and summer. We have seen this happen before, to what extent will this happen again this year, we will have to wait and see. I have discussed 2017 housing trends at length with business partners; real estate agents, builders, financial and economic experts and we are all like-minded and very optimistic about what the market holds for this year.

The overall landscape of the home buying market in Michigan is very solid, and that is coupled with what are still historically low interest rates. Even if the rates approach 5 percent, the market is signaling that 2017 will be another strong home purchase year.

Glanz co-founded Capital Mortgage Funding in the spring of 1992 with partner Dan Burke. He is a regular contributor to DBusiness.