Top-10 reverse mortgage lender American Advisors Group will launch five new TV commercials this week, each starring its spokesman, former Senator Fred Thompson. Another first for AAG: the spots will air on national news networks including ABC, NBC, and CBS.
“It’s a credit to the industry,” says Teague McGrath, director of marketing for AAG. “Networks are less wary and are happy to air our commercials.” McGrath notes the ability of AAG to expand its media buy as well, as a result of its successful leads-generating business. “We can now step it up to that kind of bracket of spend and exposure,” he says.
The spots, which range from focusing on the current economic struggles of many American seniors to testimonial input from a happy AAG customer, will roll out over the course of this week. The economy is one strong point in the commercials, and the incorporation of a testimonial featuring an interview between Sen. Thompson and a customer is another, McGrath says.
The borrower was chosen during a six-week process that started with 120 happy customers and through the process, landed AAG with a World War II veteran who had used his reverse mortgage proceeds in part to travel with his family to some of the places where he had served.
“It was about him and his story and someone who could speak for the product,” McGrath says.
In light of new changes to underwriting that are pending the decisions of many reverse mortgage lenders, including AAG, the company did have to change its disclosures slightly.
“We are the most conservative in terms of what we disclose and disclaim,” McGrath says.
The commercials, which represent the next wave of new commercials following a new Robert Wagner campaign rolled out earlier this fall by Urban Financial and new One Reverse commercials that are on the way, will hit airwaves over the course of this week. View the commercials below, or see them all via AAG’s YouTube channel.
AAG has doubled its reverse mortgage volume this year, according to data from Reverse Market Insight.
Written by Elizabeth Ecker