DNC Speech Jokes About Reverse Mortgages and Trump University

The Democratic National Convention in Philadelphia saw the appearance of politicians, celebrities and musicians voice their support for presidential candidate Hillary Clinton, a call for party unity, and just about anything anti-Donald Trump. Also present at the Monday evening event was a small joke about reverse mortgages.

Former Saturday Night Live cast member-turned U.S. Senator Al Franken (D-MN) used the majority of his speech to poke fun at Donald Trump. At one point, Franken joked that he had to use a reverse mortgage as a means to pay for the tuition at the controversial Trump University.

“I got my doctorate in megalomania studies from Trump University,” Franken joked. “Sure, I had to empty out my 401k and take out a reverse mortgage on my house to pay tuition, but Mr. Trump, or rather some people who said they once met him, convinced me that it was worth it, and frankly as a proud alumni of Trump U, we may be ‘misunderstanding’ Donald Trump.”


Monday night also saw comedian Sarah Silverman, a devout Bernie Sanders supporter, join Sen. Franken on stage prior to Paul Simon’s performance of “Bridge Over Troubled Water.” Calling for Democratic party unity, Silverman criticized one-sided supporters of the “Bernie or Bust” movement.

Reverse mortgages have found themselves at the butt of jokes among popular politicians and celebrities in the last year, with the comments made during the DNC serving as the latest instance of a reverse mortgage one-liner.

Earlier this year, Harrison Ford cracked a reverse mortgage joke during an interview with late night talk show host Jimmy  Kimmel. Last year, President Obama joked at a Washington press dinner event that his tenure as President has aged him so much that he might be “ready for a reverse mortgage.”

Watch the video of Franken’s DNC speech at Rolling Stone.

Written by Jason Oliva

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  • Those who believe that Democratic leadership supports the broader use of reverse mortgages need to look at who marginalizes and makes a joke of it.

    While the Republicans have questioned the financial viability of HECMs, it is Democrats who have consistently attacked HECM originators. We saw such attacks from the woman Senator from Missouri which was eventually reflected in part in HERA as codified at 12 USC 1715z-20(n) and (o). We should never forget the attack by the Florida State Democratic Party Chairwoman Karen Thurman, said back in 2008 on a politician by comparing him to reverse mortgage originators in declaring: “John McCain should be ashamed of himself for preying on seniors like a bogus reverse-mortgage peddler.” For several years it was posted on the Florida State Democratic Party website. Read more at http://reversemortgagedaily.com/2008/09/19/mccain-called-bogus-reverse-mortgage-peddler-and-other-news-from-the-week/

    Some say vote your pocketbook and then tell us to vote for a certain political party but it is that party that has continually attacked our character. This party has sponsored reverse mortgage suitability testing in several states which is just another way of saying we lack integrity.

    While we can all laugh at the fictional experience of Senator Franken at Trump U, bringing up reverse mortgages seems like a subtle but deliberate attack. Senator Franken could have talked about his student debt but choose reverse mortgages, why?

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