Sacramento branch supports AAG’s expansion into more home equity solutions for older Americans
ORANGE, Calif., Feb. 7, 2018 – American Advisors Group (AAG) today officially announced it has leased 11,037 square feet at 80 Iron Point Circle in Folsom, California (the “Sacramento branch”) as part of its expansion into Northern California and traditional mortgage lending. AAG expects to grow the Sacramento branch to 70 to 80 loan officers in 2018. The company began offering traditional mortgages and residential services for buying and selling homes in 2017 to provide its customers, primarily older Americans, with additional ways to access home equity to help fund a better retirement.
“For many retirees, income from savings and retirement accounts isn’t enough to cover expenses and they experience a significant drop in their quality of life,” said AAG Chief Executive Officer Reza Jahangiri. “At the same time, older Americans have amassed over $6.5 trillion in home equity. What we’ve seen is that when seniors include home equity in their retirement planning, proactively, they have better outcomes. And by providing a variety of options for accessing home equity AAG is better able to serve our customers, especially those entering or in retirement.”
As the nation’s leader in reverse mortgage lending, AAG finished 2017 with record revenues and loan originations. At the same time, the company has been exploring ways to help more seniors live comfortably in retirement, understanding that a reverse mortgage loan is not the right fit for everyone. Last year, AAG set up a “test kitchen” and began testing demand for traditional mortgages and residential services, including establishing a real estate broker referral system for customers who were interested in selling or buying homes. AAG interacts with more than 400,000 older Americans every year, many responding to the company’s TV advertisements featuring acclaimed actor Tom Selleck.
“AAG’s new traditional mortgage option is designed for customers who are not eligible or choose not to move forward with a reverse mortgage loan, but want to use their home equity to achieve a better retirement,” said AAG Chief Sales Officer Paul Fiore. “AAG’s loan officers really understand the needs of seniors, and it’s clear that our customers appreciate having options, because options allow them to see the whole picture when planning their financial future.”
AAG chose the Sacramento area for its expansion after conducting extensive market research, including tracking response rates to recruiting advertisements. AAG has built its business around training people who are the right fit for the company’s caring, driven and ethical culture.
“Expanding to Sacramento gives us access to a tremendous talent pool of experienced mortgage professionals, as well as sales professionals that we can train,” said Fiore.
AAG’s new Class A office space in Folsom was built-out in 2015 and features high-end finishes, a training room, indoor and outdoor break areas, updated kitchen, long glass lines with greenbelt views, and convenient access to Hwy 50, local amenities and the American River biking and hiking trails. AAG worked with its real estate partners, Voit Real Estate Services and Cushman & Wakefield on the site selection process before deciding on the turn-key lease offered by KW Commercial. This move is part of a larger real estate strategy designed to support the company’s growth and expansion into additional home equity solutions for seniors. It follows recent announcements about the opening of its Irvine, California, Sales & Marketing location, and Austin, Texas, Operations Center. In addition to AAG’s Orange, Irvine, Sacramento and Austin locations, the company has offices in Melville, New York, and Atlanta.
About American Advisors Group
American Advisors Group (AAG) is the nation’s leader in reverse mortgage lending. We are dedicated to helping American seniors convert a portion of their home equity, a largely untapped asset, to help fund their retirement needs.
AAG is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). To learn more about American Advisors Group and reverse mortgage loans, please visit the company’s website at www.aag.com.