AAG Doubling Down, Plans to Add 40 New Originators

NewImage.jpgDespite reverse mortgage volume being down 40% from 2009, American Advisors Group (AAG) is looking to recruit more than 40 new sales officers before the end of the year.

“We believe there is no better time than right now to begin an aggressive recruiting campaign to increase our sales floors and take advantage of current market conditions,” said Reza Jahangiri, AAG’s CEO. “The success of AAG’s national marketing campaign featuring Former Senator Fred Thompson combined with our recent compliance, licensing and technological implementations, has paved the way for our expansion plans.”

The company is conducting a job fair to grow its workforce with plans to complete all of the training and licensing requirements by the end of the year.

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“AAG ensures every sales professional is thoroughly trained and licensed before assisting any borrowers. It also ensures continuity with our sales process and best serves our clients,” Jahangiri added.

The Irvine, CA based company volume for 2010 is up 7% according to data from Reverse Market Insight.  AAG has endorsed 417 HECMs during the year, making it the 14th largest reverse mortgage lender in the country.

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  • AAG has made a huge investment in the market. One has to wonder about the timing of this announcement in light of pending appropriations legislation. rnrnIs this a sign that CBO has rescored the OMB subsidy and it now is zero or negative? That was one of the principal reasons for the push to get HECM Savers introduced early in the next fiscal year. If that is the case, we as an industry have a huge debt to those at HUD and even from our own industry who have worked so hard to get these “options” in play as early as possible.

  • AAG has made a huge investment in the market. One has to wonder about the timing of this announcement in light of pending appropriations legislation. rnrnIs this a sign that CBO has rescored the OMB subsidy and it now is zero or negative? That was one of the principal reasons for the push to get HECM Savers introduced early in the next fiscal year. If that is the case, we as an industry have a huge debt to those at HUD and even from our own industry who have worked so hard to get these “options” in play as early as possible.

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