A reverse mortgage is an excellent financial product that can provide a senior citizen with money, while also allowing them to stay in their homes. A reverse mortgage can also be a great product for a bank as it can allow them to earn interest income on the money that the borrower takes out. While it can be a mutually beneficial transaction, connecting a bank and the borrower can be a challenge. Through the use of Live Transfers®, a bank can receive excellent leads that will connect them with qualified potential customers.
Live Transfers® can provide a number of valuable services to a bank that is looking to find new customers to take out a reverse mortgage. The first thing that they can do is drive traffic to a bank’s website. The company will be able to work with a bank to find out who their target customers are, which they will then be able to understand where they need to strategically put advertisements to try and attract new customers.
Beyond advertising online, the company will also advertise in a wide range of other places as well. The company will help to establish a wide reaching marketing campaign, which can include advertising on the radio, television, in magazine, and in other sources. This can be beneficial for reverse mortgage lenders as many borrowers do not use the internet as frequently as people in younger generations. Through the advertisements, a person will be able to learn more about how reviser mortgages work and they will learn more about the bank that is providing the loan.
Another valuable service that Live Transfers® will provide is that they will help to pre-qualify candidates for the loan. The company will work with the bank to determine what the basic requirements are, including the age, level of equity, income, and other factors that could influence whether someone will qualify for the loan. Based on this information, they will be able to filter out people that do not qualify and only forward on people that do qualify. This can help a bank avoid a lot of costs that go into underwriting and interviewing people that ultimately will not qualify for the loan.