American Advisors Group Launches Forward Mortgage Expansion
American Advisors Group is known for being the nation's largest reverse mortgage lender, according to Reverse Mortgage Daily. Now, the company has their eyes set on the forward mortgage with the announcement of an aggressive expansion.
"American Advisors Group on Wednesday announced the opening of a new office in Sacramento, Calif., where the company expects to have a team of 70 to 80 forward-only loan officers by the third quarter of 2018," according to RMD.
"The goal, according to AAG chief sales officer Paul Fiore, is to capitalize on seniors’ interest in using home equity in retirement — even if some aren’t interested in Home Equity Conversion Mortgages."
AAG is looking to capitalize on the forward mortgage market as they have realized that HECMs don't always fit all customers. The move marks a diversification that could bode very well for a company with some much success in the reverse mortgage sector already.
“We don’t want to just be a reverse mortgage company come a year or two years from now,” said Founder and CEO Reza Jahangiri, according to RMD.
You can learn more about the expansion by click on the image above.
