Genworth Rolls Out Robert Wagner Reverse Mortgage Ads With New Twist

Genworth Financial Home Equity Access (GFHEA) has started airing new commercials featuring Robert Wagner as the company’s spokesman.

The ads rolled out earlier this week and are replacing the “voice over” ads that were released earlier this year. The new spots were developed with David Peskin, the chief executive officer of Synolo Solutions, a consulting company.

“We are gearing up for an exciting 2013 and TV advertising presents a great opportunity for us to expand our market reach and educate seniors about reverse mortgages,” said Pete Engelken, president of GFHEA. “What better way to kick off the new year than Robert Wagner back on the air and a whole new message to help engage seniors to learn about reverse mortgages.”

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The ads are developed to reach a broad segment of seniors, Genworth says, and the rollout includes two new feature spots, one of which that doesn’t use the term “reverse mortgage,” but instead focuses on the fact that it is a retirement loan.

“I have been talking about this great product and now it’s becoming part of the financial lifecycle of borrowers. It’s time we get the message out,” Wagner said.

GFHE told RMD it will test the campaign over the next 60 days and based on the results, the company will look into selling the leads generated to wholesale partners in the first quarter of 2013.

Ocwen Financial announced in October it planned to acquire GFHEA for $22 million in cash, with the deal expected to close in the first quarter of 2013. As part of the deal, GFHEA will change its name to Liberty Reverse Mortgage.

View the videos here and here.

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  • Success is measured in only one way, increased endorsements.  Most in the industry are looking for things to be better next fiscal year (2014).  In about eight months HUD should be reporting the start of the case number assignment activity which will culminate in endorsements in fiscal 2014.

    In six months the origination activities for fiscal 2013 will be wrapping up.  It is good to see lenders putting their marketing plans for next fiscal year now.  We will quickly find out if Robert has the ol’ magic to turn things around.

    It is with great regret that we are hearing about a retirement loan.  Such a description is dubious at best.  It sounds much different than a nonrecourse mortgage.  It almost has a snake oil feel about it.  But before completely condemning it, let us see and hear the product of all this work.

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