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Why you should video conference potential borrowers


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video-callingEmail & phone calls have their limitations

I was reminded last week when conducting a Skype video call how emails and even phone calls can fail to create a personal connection. Have you ever considered making a video call with your prospective borrowers or those going through the applicaiton process?

*There is no transcript for this week’s episode.


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. I actually did a Skype call to an out-of-town client through their financial planner’s office. It was a fabulous experience and I believe it increased the comfort level for the borrowers. It was interesting as I noticed the facial expressions of the wife; she was indicating that she had questions or concerns. I noticed that and told her that it looked like she had questions. She immediately opened up and I satisfied her inquiries. On a phone call, that would not have happened. She would have remained silent. If an LO cannot meet in person, this is an excellent tool to gaining the comfort and trust of a potential client and I can see it as a great follow-up tool.

  2. Shannon,

    What a great idea. Like George, I read faces plus speech much, much better than speech alone. Thanks for the heads up.

  3. I absolutely agree. Only issue is….we are usually dealing with older very tech phobic clients. My last 5 deals. Most did not have a cell phone and 3 of them did not use a computer. I agree, Video is great, although, I feel it is much stronger in the Traditional lending realm. Older folks do want to see you…but there is no substitute for Face to Face meetings. I will drive and see them, even if it’s over an hour away. We are the Educators and advocates for our industry, people appreciate the effort put in to make the trip, builds a sense of commitment. I have a 100% close rate in person…..I think video (A Great idea)is not the best use of time with the over 75 crowd….Now communicating with realtors that are working with borrowers using the HECM for Purchase. Great way…they are Tech savvy. Maybe a follow up update call when the borrowers are at the office…that would be great.

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