Reverse Mortgage Discussion Guide Usability Testing

CFPB Reverse Mortgage (TO3) - Discussion Guide
Research Objective: Conduct in-depth-interviews with adult consumers (n=9), who are 62
years of age or more and currently own their home, to examine how consumers approach
and understand the reverse mortgage process. The goal of the user experience (UX) test is
to produce user-centered design findings and recommendations that lead to the
improvement of the Reverse Mortgage Discussion Guide.
NOTES TO REVIEWER:
This discussion guide is not a script and therefor will not be read verbatim. The moderator
will use these questions as a roadmap and probe as needed to maintain the natural flow of
conversation. Question probes are italicized.
Moderator instructions are in brackets [ ].
Session Overview: Total time 60 minutes
Section 1: Introduction (5 min.)
The interviewer will explain the purpose of the research, present the ground rules, and allow
the participant to ask any questions.
Section2: Ice Breaker (5 min.)
The purpose of this section is to provide an icebreaker for participants and open a dialogue.
Learn more about the participants’ experiences and knowledge of reverse mortgages.
Section 3: Free Exploration (25 min.)
The purpose of this section is to evaluate how participants read and review the information in the

guide. The moderator will only use passive probes during this section so there is minimal interruption
on participants’ natural thought process. The intention is to simulate participants’ natural review
process as much as possible while still having participants raise issues. The moderator will then
probe more deeply on the issues raised in the subsequent sections.

Section 4: Satisfaction Questionnaire (5 min.)
The purpose of this section is to provide closed-ended questions so participants think critically

about different aspects of the guide. The moderator can then ask participants follow-up questions
about their responses in the following section.

Section 5: Overall Experience (5 min.)
The purpose of this section is to establish a back-and-forth dialogue with participants about their

experience. The moderator asks participants open-ended questions about their experience reviewing
the guide to probe more deeply about issues raised during the free exploration.

Section 6: Comprehension (10 min.)
The purpose of this section is to evaluate how clearly the guide is communicating complex

financial information to consumers. The moderator will ask the questions as if a friend or family
Reverse Mortgage Guide – Moderator Guide - Page 1

member is posing them so participants do not feel as if they are being tested. Due to time
constraints, there likely will only be time to ask a few questions in this section.

Section 7: Page-by-page Specific Probes (5 min.)
The purpose of this section is to receive page-by-page feedback on participants’ experience in the

guide. Given time constraints, this section has the lowest priority and there likely will not be time to
include.

Section 1: Introduction

Thank you for participating in this study today. My name is
, and I work with the User
Experience Team at Fors Marsh Group. Today we will be discussing reverse mortgages. I will
give you an informational guide and I’d like you read it over and share your thoughts on it.
Your comments and feedback will help the team improve this guide for people who are
considering a reverse mortgage. I did not create the guide so please do not feel like you
have to hold back on your thoughts to be polite to me. We’re interested in both your positive
and negative reactions. Difficulties you may run into reflect the design of the guide, not your
skills or abilities. Please keep in mind that I am not testing you or your knowledge. Rather
you are helping us to see how we can improve the guide. The entire session should last
about 60 minutes. Do you have any questions at this time?
Let’s cover a few things before we get started:
•

We are making an audio and video recording of the computer screen. Only
those of us associated with this project will see the recording, and we will not
share your name or personal information. The recording is used as a memory
aid for me so I can go back later to recall what happened during the session.

•

Please take a moment and read the Privacy Act Statement that has been
provided to you in hard copy.
Text of Privacy Act Statement

Privacy Act Statement
5 U.S.C. 552(a)(e)(3)
The information you provide through your responses to Fors Marsh Group will assist the
survey sponsor, the Consumer Financial Protection Bureau (CFPB), in evaluating an
informational guide to financial products.
The CFPB will not obtain and access identifying information from Fors Marsh about study
participants including audio recordings, video recordings, or contact information related to
test participants. The agency will only obtain and access de-identified results and
aggregated analyses of those results. Audio and video recordings will be made; however,
your faces will not be recorded.
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Information collected on behalf of the Bureau by Fors Marsh will be treated in accordance
with the System of Records Notice (“SORN”), CFPB.021: CFPB Consumer Education and
Engagement Records, 77 FR 60382. This information will not be disclosed as outlined in the
Routine Uses for the SORN. Direct identifying information will only be used by Fors Marsh to
facilitate the usability testing and will be kept private except as required by law.
This collection of information is authorized by Pub. L. No. 111-203, Title X, Sections 1013
and 1022, codified at 12 U.S.C. §§ 5493 and 5512.
Participation in this study is voluntary, you are not required to participate or share any
personally identifying information with Fors Marsh during the usability testing. You may
withdraw from participation at any time.
Paperwork Reduction Act Statement
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor,
and not withstanding any other provision of law a person is not required to respond to a
collection of information unless it displays a valid OMB control number. The OMB control
number for this collection is 3170-0036. It expires on 08/31/2019. The time required to
complete this information collection is estimated to average approximately 60 minutes per
response. Comments regarding this collection of information, including the estimated
response time, suggestions for improving the usefulness of the information, or suggestions
for reducing the burden to respond to this collection should be submitted to Bureau at the
Consumer Financial Protection Bureau (Attention: PRA Office), 1700 G Street NW,
Washington, DC 20552, or by email to [email protected].
•

I am interested in your thoughts and reactions as we proceed. This is important
because I won’t have insight into what you’re thinking. When you are reading
the guide, I’d like you to think aloud and share your reactions, your impressions,
and your thought process as you process the information. This can include the
terms, language, and the organization of information in the guide.

•

Thinking aloud can feel a bit weird to do, and at times you may end up getting
deep into reading. I may prompt you to speak up so I can get insights into what
you’re thinking about. I may also ask follow-up questions about specific parts, or
responses you have. I will try not to interrupt your train of thought too much.

•

If you do not want to answer any of my questions, you do not have to. Please
just say so, and we will move on. And of course, you can stop at any time.

•

Do you have any other questions before we begin?

Section 2: Ice Breaker

[Section 2 goal: Provide an icebreaker for participants and open a dialogue. Learn more
about the participants’ experiences and knowledge of reverse mortgages.]
2a. In the survey you completed in advance, you indicated that you currently own your home.
How long have you lived in your home?
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2b. Have you done any research on home equity loans, home equity lines of credit, reverse
mortgages, or a similar financial product? [If necessary] What have you learned?

Section 3: Free Exploration

[Section 3 goal: Evaluate how participants read and review the information in the guide. The
moderator will only use passive probes during this section so there is minimal interruption
on participants’ natural thought process. The intention is to simulate participants’ natural
review process as much as possible while still having participants raise issues. The
moderator will then probe more deeply on the issues raised in the subsequent sections.]
[Section Introduction:] Let’s set the context for this guide. Imagine that you are a
homeowner who is interested in learning more about reverse mortgages, and you would like
to talk to a professional about it. To prepare for the discussion, you go the CFPB website and
download this guide. Please go ahead and review the guide, and please remember to voice
your thoughts as you read. You do not need to read the actual document aloud but please
let me know if you find yourself asking any questions to yourself as you read.
[Moderator probes as participants voice points of confusion or uncertainty]
3a. Could you tell me more about what you’re thinking?
3b. What would you do in that situation if I wasn’t here?
3c. What does that term/sentence/paragraph mean to you?
3d. How would you interpret that figure if I wasn’t here?

Section 4: Satisfaction Questionnaire

[Section 4 goal: Provide closed-ended questions so participants think critically about
different aspects of the guide. The moderator can then ask participants follow-up questions
about their responses in the following section.]

Satisfaction Questionnaire (SATQ)

Thank you for your participation. After you have finished reviewing the Reverse Mortgage Discussion
Guide, please think about how well you understood the information presented in the document.
Think about the layout of the document as well. Please circle the numbers that most appropriately
reflect your impressions of the Guide. Reverse mortgages are a complicated topic, and your
feedback will determine the clarity of the content and format. The information you share will help us
improve the effectiveness of the Guide.
1. Please rate the clarity of the information presented to you in the Reverse Mortgage Guide:
Not Clear
At All

Slightly
Clear

Moderately
Clear

Very
Clear

Extremely
Clear

1

2

3

4

5

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2. Please rate the tone of the language used in the Reverse Mortgage Guide:
Not Appropriate
Tone
At All
1

Slightly
Appropriate
Tone
2

Moderately
Appropriate
Tone
3

Very
Appropriate
Tone
4

Extremely
Appropriate
Tone
5

3. Please rate the organization of the information in the Reverse Mortgage Guide:
Not Organized
At All

Slightly
Organized

Moderately
Organized

Very
Organized

Extremely
Organized

1

2

3

4

5

4. Please rate the trustworthiness of the information in the Reverse Mortgage Guide:
Not Trustworthy
At All

Slightly
Trustworthy

Moderately
Trustworthy

Very
Trustworthy

Extremely
Trustworthy

1

2

3

4

5

Section 5: Overall experience

[Section 5 goal: To establish a back-and-forth dialogue with participants about their
experience. The moderator asks participants open-ended questions about their experience
reviewing the guide to probe more deeply about issues raised during the free exploration.]
I’d like to now ask you some questions about your experience reviewing the guide.
5a. What was your overall experience reviewing and reading the guide?
5b. What do you think about the information that was provided in the guide?
5c. If you had come across this guide in real life when preparing to discuss a reverse
mortgage, how useful do you think it would be for you? Why? [If necessary] How easy
or difficult was it to compare the pros and cons between different options?
5d. Do you have any concerns with the information that is provided?
5e. How effective was the text in explaining the topics?
5f. How effective were the images and graphics in communicating the information?
5g. How well does the guide address your financial and housing situation?
5h. [Probe as necessary on responses to satisfaction questionnaire.]
5i. While you were reading, you mentioned [insert participants’ comment]. Could you tell
me more about what you were thinking?
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Section 6: Comprehension

[Section 6 goal: To evaluate how clearly the guide is communicating complex financial
information to consumers. The moderator will ask the questions as if a friend or family
member is posing them so participants do not feel as if they are being tested. Due to time
constraints, there likely will only be time to ask a few questions in this section.]
Let’s imagine you were having a conversation with a friend or family member about reverse
mortgages. I’m interested in knowing how you would respond to their questions. You are
welcome to use the guide to answer their questions.
6a. If a friend or family member asked you what a reverse mortgage is and whether they
should consider one, how would you respond?
6b. How much are people able to borrow using a reverse mortgage?
6c. What are the differences between a traditional and reverse mortgage?
6d. How do you determine whether you are eligible for a reverse mortgage?
6e. Are people able to have both a traditional and a reverse mortgage on their home? [If
necessary] What are risks of having both?
6f. How much can you borrow with a reverse mortgage? What goes into that determination?
6g. What happens if the loan is worth more than your house when you sell it?
6h. What does it initially cost to take out a reverse mortgage?
6i. What are the ongoing costs of a reverse mortgage?
6j. What are your different options for receiving the money?
6k. If you take out a reverse mortgage, what do you need to do as a homeowner? What are
the requirements you have to keep up?
6l. What would happen if you would move out or pass away? What are the different
circumstances that would impact what would happen?
6m. What happens if you have a reverse mortgage and move out and there are others in the
house? What determines what happens to them?
6n. What happens if you move out and children or grandchildren are living there?
6o. What other options do you have besides a reverse mortgage?

Section 7: Page-by-Page Specific Probes
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[Section 7 goal: To receive page-by-page feedback on participants’ experience in the guide.
Given time constraints, this section has the lowest priority and there likely will not be time to
include.]
7a. Does anything draw your attention on this page?
7b. Is there anything that you find confusing or difficult to understand?
7c. How well does the image illustrate the text?
7d. How helpful is the image for explaining the concepts?
7e. Is there anything confusing about the content on this page?
7f. What do you think about the organization of the information?
Thank you for participating in the interview today! Do you have any questions for me before
we finish?

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