Reverse Rate, a lead provider for the reverse mortgage industry announced a new type of campaign earlier this week.
The company is now offering leads where seniors have already been through HECM counseling, a requirement of the Department of Housing and Urban Development.
“We’re looking to do something in the industry that hasn’t done yet,” said RJ Johnson, president of Reverse Rate. “I’ve been an originator since 2001 and we’re trying to go beyond what traditional lead companies are doing.”
By utilizing a national television campaign without a celebrity spokesperson, the company started a test run of the program during the 4th quarter of 2010. After having initial success, Reverse Rate is rolling it out to new reverse mortgage lenders.
While the company isn’t doing large amount of volume yet, if there is enough interest, there is plenty of room for growth said Johnson.