Friday Round-Up: AAG Absorbs Reverse Mortgage USA

In case you missed it, here’s what’s been happening in reverse mortgage news this week:

AAG absorbs Reverse Mortgage USA. This week, Reverse Mortgage USA announced that 90% of its employees are being hired to do business under AAG, a move the new employer intends will give it a “feet-on-the-street” presence.

A study showed financial planners the merits of reverse mortgages. President of Ibis Software, Gerald Wagner, published a study in the Journal of Financial Planning that showed financial planners how reverse mortgages can supplement their clients’ retirement portfolios.

CFPB fined American Express $60 million. The Consumer Financial Protection Bureau slammed AmEx with a nearly $60 million fine for allegedly participating in illegal credit card practices.

The NCOA called on Congress to address nation’s long-term care crisis. The National Council on Aging applauded a recent hearing held by the Senate Aging Committee for its efforts to find an alternative financing solution to assist the over 12 million Americans in paying for long-term care services.

Two reverse mortgage counseling agencies joined forces. ClearPoint Credit Counseling Solutions and Atlanta-based agency CredAbility completed a merger this week to form one of the nation’s largest nonprofit credit counseling organizations.

Written by Jason Oliva

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