Meet Jerry Robinson, broker/owner of 1st Choice Mortgage Company based in Meridian, ID. In addition to offering reverse mortgages for the past ten years, Jerry originates 15 other mortgage products to accommodate a diverse client base, including Rural Development Home loans, VA loans, Doctor’s loans, Good Neighbor Next Door loans and Boise City Home Repair loans, all of which you can read about on his web site. When he’s not working, Jerry enjoys backpacking, mountain biking, skiing (snow, water & sand), fishing and volunteering with the Boy Scouts. Weekly Report sat down with Jerry to learn more about this approach to selling reverse mortgages.
Weekly Report: How are you adapting to today’s reverse mortgage market?
Jerry Robinson: Main adaptation is keeping up with recent changes and how the changes affect borrowers. And the fact that most borrowers are researching their information on the internet.
WR: Has the conversation changed at all between you and you clients in terms of helping sell the product?
JR: The conversation has definitely changed. More borrowers are doing their research on the internet, and there is quite a bit of mis-information and scare tactics that give out false information or misleading information. So, a lot of our interviewing time is giving borrower the facts about reverse mortgages and determining if it’s the right product for them.
WR: What is your favorite reverse mortgage story?
JR: I would say helping a borrower in 2018 keep his home after many people told him to sell. He was able to complete a reverse mortgage, eliminate his principal and interest payment and keep the home he has owned for over 20 years.
WR: How do you all reach consumers today? Social media?
JR: Majority of my referrals come from past client or real estate agents. Social Media is way too crowded for us small mortgage brokers.
WR: What is one (positive) take away for the coming year?
JR: Mortgage brokers are coming back, which will allow consumers to get better customer service and lower fees than some of the national lenders and national banks. Mortgage Broker ARE Better!