Reverse Mortgage Lender Gains Capital Investment

    e mortgage originator [link=][u]American Advisors Group[/u][/link] (AAG) has received a $4 million investment from private investment firm JAM Equity Partners LLC. ‘The combination of a strong capital base from an industry-experienced partner – and one of the most seasoned and accomplished teams in the industry – positions us to be a substantial player in the reverse mortgage space in the coming year," says Reza Jahangiri, president of AAG. The $4 million commitment comes from JAM's Special Opportunities Fund II LP. Proceeds from the financing will be used to further accelerate AAG's growth in the reverse mortgage sector, including funding the company's infrastructure, sales and marketing, and general working capital needs. AAG says it is poised to roll out a new direct-mail effort, along with a national television campaign. The campaign's theme, "The Best Advice for a Better Life," will have as its spokesperson a "widely familiar figure from the entertainment world," to be identified by the firm later this summer. SOURCE: [link=]AAG


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