American Advisors Group (AAG) is an American reverse mortgage lender. It provides government-insured Home Equity Conversion Mortgage ( HECM) loans and has 81 geographical areas approved for business by HUD.

History

The group was founded in 2004 by Reza Jahangiri, president and

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especiall ...

. In June 2009 the company received a capital-infusion commitment from private-equity firm JAM Equity Partners of

El Segundo, California El Segundo ( , ; ) is a city in Los Angeles County, California, United States. Located on Santa Monica Bay, it was incorporated on January 18, 1917, and is part of the South Bay Cities Council of Governments. The population was 16,731 as of the ...

, an investment said to give AAG "the resources needed to compete on a national level with a

celebrity Celebrity is a condition of fame and broad public recognition of a person or group as a result of the attention given to them by mass media. An individual may attain a celebrity status from having great wealth, their participation in spor ...

spokesperson and obuild a recognizable brand." At the same time, the company announced "a new management team" from Liberty Reverse Mortgage/Genworth and the Senior Lending Network. Jahangiri told ''Reverse Mortgage Daily'' that the company would be "sticking with retail" rather than moving to other aspects of the business. Thefirm completed its first Home Mortgage-Backed Security (HMBS) issuance in July 2013, after receiving approval from Ginnie Mae, in a program said to be "an essential financial solution for a growing number of senior citizens.". The company was named as the leading HMBS issuer for the first half of 2015, according to NewView Advisors, LLC.

Scope

AAG provides government-insured Home Equity Conversion Mortgage ( HECM) loans and has 81 HUD-approved areas for business. The organization is headquartered in

Orange County, California Orange County is located in the Los Angeles metropolitan area in Southern California. As of the 2020 census, the population was 3,186,989, making it the third-most-populous county in California, the sixth-most-populous in the United States, ...

.Jeff Collins, "American Advisers Group Sees Rapid Growth," ''Orange County Register,'' December 5, 2013, page 1
/ref> The firm launched its wholesale division in June 2012. It launched its National Field Sales (NFS) division in 2014.

Marketing

Spokespeople

In October 2009, the firm announced that film and television actor

Peter Graves Peter Graves (born Peter Duesler Aurness; March 18, 1926 – March 14, 2010) was an American actor. He was best known for his role as Jim Phelps in the CBS television series ''Mission: Impossible (1966 TV series), Mission: Impossible'' from 1967 ...

had been selected as the spokesperson for the second half of the company's national media campaign, which in its first phase had featured "personalized stories" of the way that reverse mortgages had affected homeowners. He remained spokesman until his death in March 2010. Former U.S. Senator

Fred Thompson Freddie Dalton Thompson (August 19, 1942 – November 1, 2015) was an American politician, attorney, lobbyist, columnist, actor, and radio personality. A member of the Republican Party, he served as a United States Senator from Tennessee fr ...

Tennessee Tennessee ( , ), officially the State of Tennessee, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. Tennessee is the List of U.S. states and territories by area, 36th-largest by ...

became the AAG spokesman in May 2010 until his death on November 1st, 2015. Their latest spokesman as of 2021 is actor

Tom Selleck Thomas William Selleck (; born January 29, 1945) is an American actor. His breakout role was playing private investigator Thomas Magnum in the television series ''Magnum, P.I.'' (1980–1988), for which he received five Emmy Award nominations ...

References

{{Reflist Financial services companies of the United States American companies established in 2004 Financial services companies established in 2004 Mortgage lenders of the United States Companies based in Orange, California 2004 establishments in California 2004 establishments in the United States Companies established in 2004