The country’s largest originator of federally insured reverse mortgages has begun offering traditional mortgages for its mostly older customers. Dozens of hirings are planned.
Last year, American Advisors Group was responsible for a record 12,775 home-equity conversion mortgages that were endorsed by the Federal Housing Administration, according to data from Reverse Market Insight.
That was the most HECMs originated by any FHA mortgagee, more than twice as many as the next-biggest lender, and 22 percent of all HECMs endorsed by FHA during 2017.
Source: Mortgage Daily
