Items Tagged with 'American Advisors Group'

ARTICLES

  • American Advisors Group ups reverse mortgage support for brokers

    Invests in resources to grow its wholesale channel
    American Advisors Group announced the launch Monday of an expanded set of resources designed to help its wholesale partners elevate their reverse mortgage business. AAG is ranked No. 1 in reverse mortgage lending overall, but it's No. 4 in wholesale. Now, with an enhanced set of tools for brokers, it just may climb the ranks.
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  • How many borrowers are taking out jumbo reverse mortgages? No one really knows

    The industry avidly tracks HUD-endorsed HECMs, but it's sorely lacking cross-lender data on non-agency reverses
    For the last several months, data on reverse mortgage volume has illustrated a steady descent as the industry has struggled to regain its footing in the wake of program changes. But does this tell the whole story? Five lenders now originate proprietary reverse mortgage products. But the problem is they all decline to offer specifics on volume, so there’s no way to tell just how many of these non-agency loans the industry is collectively closing.
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  • Reverse mortgages see near-even decline in wholesale, retail

    January data details volume dip
    Reverse mortgage volume dropped 5.7% industry-wide in January, with wholesale and retail experiencing similar declines. According to the latest data from Reverse Market Insight, the wholesale channel fared best with a 5.3% dip, while retail declined 6%. In all, the industry closed 1,649 loans that month.
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  • Reverse mortgage data spotty for January

    Government shutdown clouds endorsement results
    Reverse mortgage endorsements dropped 5.8% to 1,649 loans in January, according to the latest report from Reverse Market Insight. But HECM loans were not endorsed during the recent government shutdown, so the data reflects a huge gap in activity from Dec. 22 to Jan. 27. "It's hard to honestly know what to make of that given the noise introduced by the government shutdown," RMI wrote.
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  • Top 10 reasons why borrowers pursue a jumbo reverse mortgage

    AAG borrower survey pinpoints market potential
    American Advisors Group has surveyed borrowers who have chosen its private-label AAG Advantage loan to determine what prompts seniors to pursue a jumbo reverse mortgage. The results highlight the vast differences between the average reverse mortgage borrower – whose financial situation is often tenuous – and those who pursue a jumbo reverse to access the equity in a higher-value home.
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  • Here are the top 10 reverse mortgage stories of 2018

    A recap of the news that caught your attention this year
    It’s been an eventful year in the reverse mortgage industry. The HECM space saw new proprietary products enter the market, adjusted to a new second-appraisal rule, and witnessed volume plummet. We drilled down on our article stats to find out what reverse mortgage stories got the most attention this year, shedding light on the topics our audience found most interesting in 2018.
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  • A look back at 2018's HECM highlights

    Recapping the major reverse mortgage news of the year
    It's been a tumultuous year for the reverse mortgage industry, but that's really nothing new for those who make their living in this line of work. No stranger to change, the HECM space witnessed a good amount of action this year. We've compiled a rundown to give you a review of all that's happened in 2018.
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  • More borrowers turn to proprietary reverse mortgages

    Lenders report growing interest in non-agency reverses
    For years, 95% of the reverse mortgage market has been dominated by the FHA's HECM offering. But it looks like that's about to change. Now, borrowers can take a reverse mortgage on a higher priced home and choose from a selection of products with a number of interesting features offered by five different lenders, and lenders say consumer interest is strong.
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  • AAG hires new senior VP of operations

    Joe Stephenson will oversee all sales channels
    American Advisors Group has named Joe Stephenson senior vice president of operations. As such, he will oversee operations for all of AAG's sales channels, including its call center, national field sales division and wholesale division. The hire comes not long after the leading reverse mortgage lender launched a massive rebrand that involved an expansion of the company's offerings in an effort to help seniors "retire better."
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  • Finance of America Reverse rebrands as retirement solutions provider

    Announces partnership with home sharing service Silvernest
    Reverse mortgage lender Finance of America Reverse has announced it is rebranding as a provider of retirement solutions dedicated to helping people "get to work on retirement." FAR President Kristen Sieffert said the move is essential to change the conversation about reverse mortgages, stating that, "It's critical that we become more than a just a lender."
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