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What Do They Want?


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Consumer-Centric Fact Finding versus Selling

reverse mortgage newsGrowing up as a child I remember my father reminding me periodically “It’s not about you.” This admonishment is key for us to develop successful personal relationships and more practically with our borrowers.

Sitting down at the kitchen table with hundreds of older homeowners and countless business presentations this simple, yet direct principle can easily be lost in one’s zeal to present, persuade and influence. These motivations can blind us to one of the keys to successfully determining if a reverse mortgage is in fact the best course of action.

Today our prospects have more power than ever with better product knowledge, the ability to conduct research online and social media. Here are some principles to keep in mind as we work with older homeowners considering a Home Equity Conversion Mortgage.

1- Interview them first. Avoid the temptation to jump into the storied history of the reverse mortgage program, margins, the index and non-recourse clause. While important…

Download a transcript of this episode here.

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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.

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  1. The issue of value is almost gone in the HECM marketplace.

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