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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Mortgage lenders and vendors are waiving fees and enhancing program criteria, looking to reduce costs for borrowers and increase their business.
9h ago -
ACHM 2025-HE1 will repay notes using a pro-rata, sequential pay structure that must satisfy an overcollateralization test, and cumulative loss and delinquency triggers.
March 29 -
The government conservatorship of Fannie Mae and Freddie Mac wasn't meant to last forever, but releasing the companies is complicated and should involve a diffident Congress, housing policy experts said during a Federal Reserve Bank of Atlanta housing panel.
March 28 -
While artificial intelligence can quickly analyze and compare products for consumers, social media and other online tools still serve to educate them.
March 28 -
The federal district court order in Mississippi allows allegations of servicer responsibility for insurance shortcomings and excessive costs to proceed.
March 28 -
A federal judge granted a preliminary injunction that preserves the Consumer Financial Protection Bureau's existence, reinstates fired employees and contracts, requires data be preserved and mandates that employees go back to work.
March 28