Innovating Reverse Mortgage Marketing Strategies in 2024

Snapshot: In the first half of 2024, significant marketing shifts in the reverse mortgage industry have been marked by innovative strategies from Finance of America and New American Funding. 

Finance of America, having acquired American Advisors Group, is merging its brands under a single banner to streamline messaging and address evolving retirement needs, with a focus on integrating home equity into broader retirement planning. Chris Moschner, CMO at Finance of America, highlighted the importance of adapting to changing retirement savings realities. 

Meanwhile, New American Funding launched a campaign titled “Old Wives,” which uses generative AI and taps into myths and preconceptions about reverse mortgages to engage audiences, particularly single women. This campaign is designed to modernize reverse mortgage marketing and aims to expand into new media with testimonial content featuring real users. Both approaches reflect a broader effort to rejuvenate reverse mortgage perceptions and enhance market engagement.

Key Quote: “Americans are changing the way they think about and plan for retirement right in front of our eyes. Today, more of our customers find that their savings simply aren’t sufficient to maintain their quality of life as they age.” Chris Moschner, CMO, Finance of America Companies

Full story: HOUSINGWIRE