Presidents Day Round-Up: AAG’s New TV Ad, Hot Reverse Mortgage Markets

In observance of Presidents Day, RMD will not send out a morning newsletter on Monday, February 15, but will return to our normal posting schedule Tuesday the 16th.

For all the RMD readers also observing the holiday honoring our nation’s founding fathers (and even those are still making it into the office that day), us here at RMD would like to wish everyone a safe, enjoyable, and above all else, a relaxing weekend. We’ll see you back here on Tuesday.

In the meantime, in case you missed it…here’s what happened in reverse mortgage news this past week:

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These Cities Were January’s Top Reverse Mortgage Markets—Although reverse mortgage volume had a rather sluggish start to 2016, some major cities were able to crank out higher production in January compared to last year. See which markets made the cut.

Reverse Mortgage Pros Debunk Common HECM Myths in Radio Shows—While some reverse mortgage professionals have taken to local newspapers and weekly print magazines to get their messaging out there, others have turned to financial radio shows and podcasts in their greater industry efforts to dispel misconceptions of the reverse mortgage product.

TIME: Reverse Mortgages Are Big Assets Hiding in Plain Sight—Home equity is often considered one of the biggest assets retirees have, but many people are not taking advantage of this critical source of wealth hiding in plain sight under their roofs. For some retirees, a reverse mortgage may be worth considering in retirement, according to a recent TIME Magazine article.

HUD Budget Shows Continued Promise for Reverse Mortgage Program—The Department of Housing and Urban Development’s annual budget proposal for fiscal year 2017, released Tuesday by the Obama Administration, shows continued promise in the agency’s reverse mortgage book of business. As for the Home Equity Conversion Mortgage (HECM) program, the budget indicates HUD expects continued positive cash flow for fiscal year 2017.

AAG Unveils Newest Reverse Mortgage Commercial—In its newest TV ad campaign, American Advisors Group brings several noted academic financial professionals into the conversation on reverse mortgages and retirement planning. The new TV spot is the company’s first commercial following the death of longtime AAG spokesman, former U.S. Senator Fred Thompson.

Written by Jason Oliva