Just How Far? - HECMWorld.com Skip to content

Just How Far?


Proficio Mortgage
[vimeo id=”96136140″ width=”625″ height=”352″]

Not interested? What will you do next?

Reverse Mortgage News

Having conducted over one hundred training sessions with fellow reverse mortgage professionals a common question is raised. Just how far should I go in following up with a potential borrower? Unfortunately many stop after one attempted phone call or if the prospect shows any signs of disinterest. This is tragic since the the majority of homeowners we contact are not ready to jump on board, sign the application and schedule counseling during our first encounter. Quite frankly if they are then you should be concerned. Here are a few effective strategies to decrease your frustration and close more loans in the process. Sound good? Let’s get started.

#1- Have a disciplined follow up system. Any system for that matter. I am partial to the use of databases of CRMs but any reliable and easy to use system will work. You will want to accomplish three things on every phone call: take notes, gauge interest and schedule follow up…

Download the video transcript here.

Looking for more reverse mortgage news, technology & training? Visit Reverse Focus here today.



Editor in Chief: HECMWorld.com
As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.

Leave a Comment


  1. After how many calls where there is no answer should the lead be discarded? What intervals should there be between calls to prospects?

  2. I never, ever throw away a lead. I have been originating RM’s for twelve years and after waiting on one of them for 10 years, with about 4 consultations….guess who finally decided to apply for their loan?

    Yup! I sent it to my processor, today.

    Here it what I do in my own business. I f I manage to talk with them on the phone, but they don’t want to meet with me for a consultation, they go into my data base. Maybe I do meet with them, but they don’t apply. They go into my data base.

    Every other month they receive a newsletter that is mailed to them and you would be surprised at how many times they call to say “hello”, but still not ready to apply.

    Or they call with a question and sometimes are ready to move forward

    I mail out birthday cards and about every 3 months, I send a handwritten note, letting them know how much money they could receive from an RM as of that time.

    As for the question about how often to call? After the first couple of times, maybe a week apart, it’s pretty obvious they don’t want to talk to me.

    Into my data base, they go!

    Don’t be annoying, but respectful and trust your instincts as to whether or not you should call, again.

    Just keep in touch the way I do. They appreciate it and won’t forget you when and if they decide they want a Reverse loan.

  3. Oh! and as to the question about calling and no one answering the phone. Send them a handwritten note that apparently you have an incorrect phone number for them and you know that they have requested some info on an RM, but you have been unable to reach them and if they would call you, you could answer their questions.

    If the note isn’t returned to you, because maybe they “fudged” on their address, put it into your data base and keep in touch per my previous comment.

  4. Thank you, Shannon and Lorraine for your insights.

    I am fairly new to the business and what your comments made me realize is this is a bit of a “different bird” than a forward mortgage, where chances are pretty darn high they have gone on to another lender. With a HECM, I can imagine it is more a situation where they are just not ready, and need to be educated and allowed to mull over the idea. So, persistent and respectful follow-up often will produce positive results in the future.

    Thank you.

Add a Comment

Your email address will not be published. Required fields are marked *


Recent Stories


Subscribe to join our World

Get the latest reverse mortgage news delivered straight to your inbox.