Online Mortgage Brokers

As More Seniors Come Online, Reverse Mortgage Lenders Ramp Up Reputation Efforts

When consumers first seek product information, often the first place they go to research is the Web. When borrowers search for reverse mortgage background and details, the results and information they find online can have a big impact on their impressions of the product and whether or not they decide to proceed.

Recent data from the Pew Research Center shows that approximately four in five adults uses the Internet regularly, and the senior demographic is no exception. The Pew study found that 87% of Internet users in the “Older Boomers” group, or those who are ages 56-64, use search engines, and the percentage was only slightly less—82%—for those in the 65-73 age group. Further, Pew says, Internet users ages 56-73 are even more likely than younger adults to have rated a product, service, or person online.

As a result, reverse mortgage lenders are ramping up efforts to occupy the online space and some are using consumer feedback and other means to manage their reputations accordingly.

“As a small brand, the importance of our customers’ experience and their willingness to share it are becoming increasingly important now that organic search and social media have come together,” says Cliff Auerswald, an originator at All Reverse Mortgage Company. “Search engines like Google are now incorporating sites like Better Business Bureau Trustlink & Yelp into the SERPs (search engine results pages) enabling visitors to easily check our customer reviews and personal experiences.”

Not only is it important to bolster brands online and see what consumers are saying about reverse mortgage companies and products, but addressing the negative ideas about reverse mortgages is another important action to take, says Christopher Foltz, founder of communications strategy firm Christopher Foltz & Company.

“The best thing you can do is address the negatives, and more importantly, be the first one to address it and draw attention to the negative things,” Foltz says. With that, reverse mortgage companies are more likely to win the consumer appeal, he says. “One of the biggest mistakes you can make is to avoid having the conversations about the negative things.”

Detroit-based One Reverse, a division of Quicken Loans, has found benefits in an unfiltered feedback portal online where its customers can share their experiences with others. While the posts are not reviewed or edited by One Reverse employees before they are posted, the honest feedback has been very successful, One Reverse says, not only in informing future customers, but also in helping the company to improve.

Working with Online Brokers for Refinancing Your Mortgage | Kellys ...

Working with Online Brokers for Refinancing Your Mortgage

Online broker sites enable you to make quick comparisons from basic financial information that you provide. Usually, you will need a general idea of your credit score, loan amount, and down payment. The quote you receive gives you a rough idea of rates and closing costs.

Take the time to check with a couple of broker sites to find the best deal. Each broker works with different lenders and negotiates unique deals. Spending a few extra minutes analyzing quotes can save you thousands in interest costs.

Once you have narrowed your choices down for refinancing , request a detailed quote from the lender. This will require the financing company to look at your credit score. You dont want to request too many detailed quotes, since your credit score is temporarily lowered every time a lender makes a credit inquiry. I highly recommend this lending tree review over at RefinanceQuiz.com as a good place to start.

Working with Online Brokers for Refinancing Your Mortgage

Online broker sites enable you to make quick comparisons from basic financial information that you provide. Usually, you will need a general idea of your credit score, loan amount, and down payment. The quote you receive gives you a rough idea of rates and closing costs.

Take the time to check with a couple of broker sites to find the best deal. Each broker works with different lenders and negotiates unique deals. Spending a few extra minutes analyzing quotes can save you thousands in interest costs.

Once you have narrowed your choices down for refinancing , request a detailed quote from the lender. This will require the financing company to look at your credit score. You dont want to request too many detailed quotes, since your credit score is temporarily lowered every time a lender makes a credit inquiry. I highly recommend this lending tree review over at RefinanceQuiz.com as a good place to start.

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