American Advisors Group
{{Infobox dot-com company
| logo = AAG reverse mortgage logo.png
| name = American Advisors Group, In
| foundation = Irvine, California, USA (2004)
| location = 18200 Von Karman Ave., Suite 300
Irvine, California 92612
United States
| key_people = Reza Jahangiri, CEO/Founder
| num_employees = 1000+ (2015)
| homepage = [https://www.aag.com www.aag.com]
}}
American Advisors Group (AAG) is an American reverse mortgage lender.{{cite web |url=http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/9392 |title=NMLS Consumer Access |accessdate=7 August 2012}}{{cite web|last=Billingsley|first=Eric|title=Reverse Mortgage Lending Sees Consolidation, Stimulus Boost|url=http://www.ocbj.com/news/2009/sep/14/reverse-mortgage-lending-sees-consolidation-stimul/?page=2|work=Orange County Business Journal|accessdate=19 January 2012}} It provides government-insured Home Equity Conversion Mortgage (HECM) loans and has 81 geographical areas approved for business by HUD.{{cite web|last=U.S. Department of Housing and Urban Development|title=Lender: AMERICAN ADVISORS GROUP|url=https://www.hud.gov/ll/code/getaafb.cfm?ins_name=AMERICAN+ADVISORS+GROUP&mort_id=2282300018&ins_type=2|work=Lender AAFB Data|access-date=16 January 2012}}
History
The group was founded in 2004 by Reza Jahangiri, president and chief executive officer.{{cite journal|last=Makkar|first=Aman|title=We Are CIS|journal=The Reverse Review|date=September 2011|pages=20–25|url=http://www.reversereview.com|accessdate=16 January 2012}}
In June 2009 the company received a capital-infusion commitment from private-equity firm JAM Equity Partners of El Segundo, California, an investment said to give AAG "the resources needed to compete on a national level with a celebrity spokesperson and [to] build 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.{{cite web|last=Yedinak|first=John|title=Exclusive: Interview With CEO of AAG|url=http://reversemortgagedaily.com/2009/08/21/exclusive-interview-with-ceo-of-aag/|work=Reverse Mortgage Daily|accessdate=16 January 2012}}{{cite web|last=Yedinak|first=John|title=Reverse Mortgage Lender Raises $4 Million, Gears Up For Expansion|url=http://reversemortgagedaily.com/2009/08/04/reverse-mortgage-lender-raises-4-million-gears-up-for-expansion/|work=Reverse Mortgage Daily|accessdate=29 May 2013}}
The firm completed its first Home Mortgage-Backed Security
(HMBS) issuance in July 2013, after receiving approval from Ginnie Mae,[http://reversemortgagedaily.com/2013/08/05/despite-market-changes-aag-looks-to-set-new-reverse-mortgage-records/ Elizabeth Ecker, "Despite Market Changes, AAG Looks to Set New Reverse Mortgage Records," Reverse Mortgage Daily, August 5, 2013] in a program said to be "an essential financial solution for a growing number of senior citizens.".[http://www.ginniemae.gov/products_programs/programs/Pages/hmbs_program.aspx "Home Equity Conversion Mortgage-Backed Security (HMBS) Program," GinnieMae, January 18, 2013] The company was named as the leading HMBS issuer for the first half of 2015, according to NewView Advisors, LLC.{{cite web |title=HMBS Issuer 2015 First Half League Tables – AAG Overtakes RMS « New View Commentary |url=http://newviewadvisors.com/commentary/hmbs-issuer-2015-first-half-league-tables-aag-overtakes-rms/ |publisher=New View Advisors |access-date=12 March 2021}}
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.{{cite web|last=Collins|first=Jeff|title=Lender sees rapid growth|url=http://www.ocregister.com/articles/company-540058-employees-business.html|work=Orange County Register|accessdate=6 December 2013}}{{cite web |title=American Advisors Group |url=http://www.bbb.org/orange-county/business-reviews/reverse-mortgage/american-advisors-group-in-orange-ca-100017572 |accessdate=10 August 2012 |work=BBB Business Review |publisher=The Better Business Bureau of the Southland, Inc}}[http://www.ocregister.com/articles/company-540058-employees-business.html Jeff Collins, "American Advisers Group Sees Rapid Growth," Orange County Register, December 5, 2013, page 1]
The firm launched its wholesale division in June 2012.{{cite web|last=Yedinak|first=John|title=AAG Launches Wholesale Reverse Mortgage Division, Hires Chargin as AE|url=http://reversemortgagedaily.com/2012/06/24/aag-launches-wholesale-reverse-mortgage-division-hires-chargin-as-ae/|publisher=Reverse Mortgage Daily|accessdate=29 May 2013}} It launched its National Field Sales (NFS) division in 2014.{{cite news |title=American Advisors Group brings in new hire to lead national sales channel |url=https://www.housingwire.com/articles/38556-american-advisors-group-brings-in-new-hire-to-lead-national-sales-channel |access-date=12 March 2021 |work=HousingWire |date=17 November 2016}}
Marketing
=Spokespeople=
In October 2009, the firm announced that film and television actor Peter Graves 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.{{cite web|last=Yedinak|first=John|title=Reverse Mortgage Lender Rolls Out Celebrity Media Campaign|url=http://reversemortgagedaily.com/2009/10/08/reverse-mortgage-lender-rolls-out-celebrity-media-campaign/|publisher=Reverse Mortgage Daily|accessdate=16 January 2012}}
Former U.S. Senator Fred Thompson of Tennessee became the AAG spokesman in May 2010 until his death on November 1, 2015.{{cite web|last=Yedinak|first=John|title=AAG Announces Fred Thompson as Reverse Mortgage Spokesman|url=http://reversemortgagedaily.com/2010/05/24/aag-announces-fred-thompson-as-reverse-mortgage-spokesman/|publisher=Reverse Mortgage Daily|accessdate=16 January 2012}}{{cite web|last=Sullivan|first=Bob|title=From presidential candidate to paid mouthpiece, politicians cashing in|url=http://redtape.nbcnews.com/_news/2012/12/13/15843315-from-presidential-candidate-to-paid-mouthpiece-politicians-cashing-in?lite|work=The RedTape Chronicles|publisher=NBC News|accessdate=29 May 2013|archive-url=https://web.archive.org/web/20130313201003/http://redtape.nbcnews.com/_news/2012/12/13/15843315-from-presidential-candidate-to-paid-mouthpiece-politicians-cashing-in?lite|archive-date=2013-03-13|url-status=dead}} Their latest spokesman as of 2021 is actor Tom Selleck.{{Cite web|date=2016-06-01|title=Tom Selleck Named American Advisors Group (AAG) National Spokesman|url=https://www.businesswire.com/news/home/20160601006928/en/Tom-Selleck-Named-American-Advisors-Group-AAG|access-date=2020-08-26|website=www.businesswire.com|language=en}}