In February 2018, Denver, Colorado, snagged the number 2 spot on LendingTree’s list of cities with the highest usage rates of reverse mortgages. The demand for Home Equity Conversion Mortgages (HECMs) was so high, in fact, that the Denver Business Journal speculated that it could have contributed to the city’s low inventory of available properties […]
As many in the reverse mortgage industry continue to try and find their footing in the market after the sweeping product changes handed down on October 2, 2017, one potentially overlooked aspect of appealing to potential borrowers could be in the cultivation of a personal brand. That strategy has worked effectively for Steven Sless, division […]
Social media can be a powerful tool to leverage in marketing any kind of product, but finding the right place for it in marketing reverse mortgages can be complicated particularly because the products are geared toward the protected class of seniors. A panel of reverse mortgage marketing professionals all expressed different perspectives on how best […]
With a series of disruptive changes affecting the reverse mortgage marketplace over the past two years, companies that offer reverse mortgage products have had to adapt their strategies to adjust to changes that can adversely affect who can qualify for a reverse mortgage in the first place. These and other realities unique to the modern […]
A panel of experienced reverse mortgage sales professionals discussed a series of effective marketing methods that have led to success in appealing to clients across a number of different reverse mortgage product types when asked about challenges they have overcome in making sales. This was part of a discussion among the sales professionals that took […]
Although they can often be a tough sell, reverse mortgages can likely help financial clients who find themselves running out of money in retirement. This is according to an article appearing in Financial Advisor by writer Dan Jamieson. Home equity can be tapped for a number of reasons, including to pay off existing mortgages, mitigate […]
For a reverse mortgage originator, getting the word out about the services he or she provides can be one of the trickier parts of generating new business. One opportunity that could help an originator get in front of more seniors’ eyes is appearing in the media outlets that they absorb on a daily basis. Grassroots […]
Comedian Jimmy Fallon’s opening monologue on Thursday’s edition of NBC’s “The Tonight Show” often takes shots at daily news headlines, and when discussing the recently-announced 2020 presidential campaign of former Vice President Joe Biden, the comedian noted visual similarities between Biden’s campaign announcement video and common television advertising from the reverse mortgage industry. After pulling […]
There have long been challenges associated with building partnerships between reverse mortgage originators and the financial planning community, either because of some personal biases or because they may not be allowed to offer the idea of using a reverse mortgage as a financial tool by their institutions. Recent indications have illustrated, though, that more in […]
For many originators in the reverse mortgage business, there are a series of tried-and-true methods that can be followed for someone to find his or her next prospective borrower. Typical examples include forging relationships with trusted advisors, meeting seniors face-to-face at community centers, or becoming affiliated with local commerce organizations. Sometimes, though, originators can find […]
