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Celink is now HUD’s official HECM loan servicer
It’s official: Celink now provides loan servicing for Home Equity Conversion Mortgage (HECM) reverse loans sponsored by the Federal Housing Administration (FHA). RMD fills in the details in this week’s episode.
[MarketWatch] A hot market cools way down
[RMD] Behind the scenes on FAR’s acquisition of AAG’s direct sales channel
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AAG cuts workforce- Finance of America to close forward division
A rapidly-changing market has led two of our industry’s largest lenders to make big changes. One reduces its reverse mortgage workforce, another will close its traditional/forward division and focus on its productive reverse mortgage channel.
Finance of America Mortgage closes forward unit- reverse remains the focus
Reverse Market Insight’s monthly market update
The New York Times Examines Reverse Mortgage Celebrity Spokespersons
There may be a window of opportunity in the wake of President Trump’s call to overhaul regulations for financial institutions and housing agencies. The National Reverse Mortgage Lenders Association (NRMLA) submitted several requests to HUD to update and refine the non-borrowing spouse provisions of the Home Equity Conversion Mortgage, and improve the rules for HECM purchase transactions. An opportune moment indeed as HUD has asked for inputs to identify regulations that impose an undue burden.
The addition of non-borrowing spouse protections was a welcomed change that provided protection for the spouses of HECM borrowers not named on the loan and removed a thorn in the side of the HECM industry that buoyed claims of reverse mortgages unfairly punishing widows and widowers in their most painful and vulnerable hours. While several tweaks have been made in recent years, NRMLA has asked for improvements addressing conflicting language in HECM loan documents and provide protection to non-borrowing spouses.
While getting a reverse mortgage is complex, unwinding the loan can be even more complicated for surviving non-borrowing spouses, heirs and services
Acclaimed actor to help expand awareness about reverse mortgage loans for retirement planning
Orange, Calif. (June 2016) – American Advisors Group (AAG), the leading reverse mortgage lender in the U.S., today announced Emmy and Golden Globe award-winning actor Tom Selleck as its national spokesperson. Selleck is currently starring as NYPD Commissioner Frank Reagan on the CBS hit series “Blue Bloods” and is also the star of the popular “Jesse Stone” movie franchise based on the Robert B. Parker novels.
The announcement kicks off AAG’s launch of a refreshed, multi-faceted marketing campaign, which will include ads, a new AAG tagline and updated collateral. Together with Selleck, the company will continue to focus efforts on educating older Americans, their family members and caregivers about reverse mortgage loans that can help achieve financial stability in retirement.
After the passing of AAG’s previous spokesperson, former Senator Fred Thompson, the company spent months exploring potential spokespeople to represent the AAG brand. According to Chief Creative Officer Teague McGrath, “Our research reinforced the widespread recognition and respect that Tom Selleck has garnered among Americans and crosses generations. We believe he is the best candidate for the job and we’re thrilled to have him on board.”
A U.S. Army veteran, Selleck served in the 160th Infantry of the California Army National Guard from 1967 to 1973 and has worked tirelessly on behalf of veterans through various organizations. In 1997, Congress awarded Selleck the Horizon Award. This honor is presented to individuals from the private sector who have contributed to expanding opportunities for all Americans through their own personal contributions, and have set exceptional examples for young people through their successes in life. Selleck is particularly proud of being a board member of the Josephson Institute of Ethics, as the national spokesperson for the Character Counts Coalition. He considers himself privileged to have served together with the late Barbara Jordan, a hero of his who also served as the first African American female elected to the United States House of Representatives.
AAG Chief Executive Officer Reza Jahangiri added, “It’s critical we partner with a spokesperson that older homeowners trust and with whom they feel a connection.” He explained, “I am confident that Tom, with his stature and credibility, will greatly assist us in continuing the conversation about the importance of home equity in retirement planning. He has been a welcome guest in American households for nearly 50 years and his record of service speaks for itself. We’re proud he’s part of the team.”
About his new role, Selleck said, “I am pleased and proud to be working with AAG. It was, after all, Fred Thompson who sparked my interest in reverse mortgages. I strongly believe that it is important for many Americans 62 and older, and just as importantly for their families, to know that a reverse mortgage can help them stay in their homes without giving up their ownership.”
About American Advisors Group
American Advisors Group (AAG) is the nation’s leader in reverse mortgage lending. We are dedicated to assisting American seniors convert a portion of their home equity, a largely untapped asset, to help fund their retirement needs.
AAG holds an A+ rating by the Better Business Bureau, has a 96% customer satisfaction rating and is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). To learn more about American Advisors Group and reverse mortgages, please visit the company’s website at www.aag.com, on Facebook and on Twitter.
For media inquiries, please contact Laura Turtzer at 949-751-4481 or email firstname.lastname@example.org.
American Advisors Group’s Newest Television Commercial Features Noted Academics
Orange, Calif. (February 10, 2016) – American Advisors Group (AAG), the leading reverse mortgage lender in the nation, today announced the launch of its new television commercial. The 120-second spot, depicting reverse mortgage as a viable retirement planning tool, is airing now and scheduled to run over the next quarter.
The spot features noted academics David W. Johnson, Ph.D., associate professor of finance at Maryville University, and Barbara Howard, MBA, finance; MA, gerontology and adjunct professor at University of Bridgeport. The two professors emphasize the importance of a reverse mortgage loan as a flexible financial solution during a time when traditional sources of retirement income may not provide enough financial stability for today’s retirees.
The commercial debuts as academics garner mainstream media coverage about a national crisis faced by older Americans—about two-thirds of seniors are not financially prepared for retirement. Financial experts are encouraging homeowners age 62 and older to consider converting their home equity as a means to help fund ongoing expenses, including medical costs and long-term care. The spot also highlights a reverse mortgage standby line of credit available for homeowners to use when they need it most.
“The new AAG commercial sheds light on how reverse mortgage loans are becoming widely accepted by academics and experts as a versatile financial solution to help seniors achieve retirement security,” AAG Chief Creative Officer Teague McGrath explains. He continues, “At AAG our mission is to help educate consumers on the advantages of this powerful tool, and the experts’ confidence in the product provides valuable third-party credibility.”
This is the first new commercial to be produced following the death of AAG national spokesperson Fred Thompson in November of 2015. The ad serves as a starting point for the company’s larger, multi-faceted marketing approach that will feature a complete refresh of AAG’s creative materials later in the year.
The ad will run across cable and national networks, including ABC, NBC and CBS. It can also be viewed here.
About American Advisors Group
American Advisors Group (AAG) is the nation’s leader in reverse mortgage lending. We are dedicated to helping American seniors convert a portion of their home equity, a largely untapped asset, to help fund their retirement needs.
AAG holds an A+ rating by the Better Business Bureau, has a 96 percent customer satisfaction rating and is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). To learn more about American Advisors Group and reverse mortgages, please visit the company’s website at www.aag.com, on Facebook at https://www.facebook.com/AAGreverse and on Twitter at https://twitter.com/AAGreverse.
AAG CEO Reza Jahangiri discusses the future impact of the financial assessment, strategies to succeed in a changing marketplace and more.Continue reading
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