American Advisors Group, a reverse mortgage lender based in Irvine, Calif., said it has both a new management team and an infusion of investment capital. The capital comes from JAM Equity Partners LLC, El Segundo, Calif.; an affiliate had committed to make a $4 million investment in the firm. "The combination of a strong capital base from an industry-experienced partner — and one of the most seasoned and accomplished teams in the industry — positions us to be a substantial player in the reverse mortgage space in the coming year," said Reza Jahangiri, president of American Advisors Group. AAG is starting a direct mail campaign and television campaign with the theme of "The Best Advice for a Better Life." The campaign will have a celebrity spokesman whose name was not disclosed.
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Lumber retains protections for now, but construction stocks still fell, and while the initial market reaction lowered rates, there could later be a reversal.
3h ago -
While prices are still rising, an increase in reductions from listing suggests sellers are adjusting to the new reality for home buying this season.
4h ago -
Homebuyers would be able to take advantage of streamlined finance options, folding energy infrastructure costs with their mortgages, the companies said.
5h ago -
The bank said it will appeal the judge's ruling, which it suggested would have a chilling effect on lenders participating in such government programs.
5h ago -
Jonathan Gould, President Donald Trump's pick to lead the Office of the Comptroller of the Currency, passed through the Senate Banking Committee on a party-line 13 to 11 vote.
7h ago -
United Wholesale Mortgage led its industry peers in total origination volume, though Rocket Mortgage and Crosscountry weren't that far behind.
7h ago