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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The way mortgage firms address distressed military borrowers will become less regimented as the Veterans Affairs Servicing Purchase program gets phased out.
43m ago -
The trend is not the norm but there are growing opportunities to buy for less in some areas many people gravitate to, real-estate brokerage Redfin found.
April 24 -
While the 30-year rate landed near its level of a week ago, it ended up there only after political developments led to up-and-down swings in Treasurys.
April 24 -
It is quite likely March's drop in the Purchase Application Payment Index will be transitory as mortgage rates have increased since the start of April.
April 24 -
Small-business owners will be given the option to tap into anywhere from $50,000 to $500,000 in financing.
April 24 -
Whether current conditions favor buyers or sellers is up for debate, as economic uncertainty begins to influence consumer behavior, The Real Brokerage said.
April 24