National Reverse Mortgage Lenders Association

Over 50% of Generation X Can't Afford to Help their Senior Parents, According to AAG Survey

Retrieved on: 
Tuesday, August 9, 2022
Association, Ageing, American Advisors Group, National Reverse Mortgage Lenders Association, Gen, Data, Adult Children, Parent, Retirement, Adult, Tax, Safety, AAG, Insurance, Reverse mortgage, HECM, Toy, Residential care

IRVINE, Calif., Aug. 9, 2022 /PRNewswire/ -- Inflation and current economic conditions are creating problems for senior Baby Boomers, and new data from American Advisors Group (AAG) shows that those financial issues could become a problem for their Generation X (Gen X) children. To learn exactly how Gen X adult children are feeling about their parents' financial state, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents.

Key Points: 
  • The Data Shows that Gen X is Worried About their Baby Boomer Parents:
    Over half of Gen X adult children do not have enough money to help their senior parents.
  • 55% of adult children said they are not financially prepared to care for their parents in a time of need.
  • Over a third of Gen X adult children are worried their parents' financial issues will fall on them.
  • Over half of Gen X adult children are not able to afford any type of elder care for their parents.

Older Homeowners Least Likely Cohort to Consider Tapping into Home Equity Despite Record Property Values, According to New Research from FAR

Retrieved on: 
Tuesday, July 26, 2022
Construction & Property, Insurance, Human Resources, Seniors, Finance, Banking, REIT, Professional Services, Consumer, Residential Building & Real Estate, Knowledge, Goal, Association, The Harris Poll, Education, Awareness, Sex, General of the branch, Silent Generation, Industry, Learning, Baby boomers, Public opinion, FAR, National Reverse Mortgage Lenders Association, NYSE, Gen, Research, Partnership, Solution, Risk, Retirement, Income, Family, Academy, Financial Planning Association of Australia, HELOC, Ageing, Company, Marital status, FOA, Life, Public relations, Housing, Population, Anxiety, Financial services, Financial adviser, Security (finance), Bank, Marketing, Life insurance, Generation X, Finance, Boomer

FAR intends to publish the survey annually and track homeowners perceptions and home equity utilization over time.

Key Points: 
  • FAR intends to publish the survey annually and track homeowners perceptions and home equity utilization over time.
  • The surveys inaugural findings reveal that older homeowners are nearly two times less likely than younger generations to consider utilizing home equity loans.
  • Yet only 29% of survey respondents with a financial advisor have ever spoken with them about a home equity loan.
  • Sieffert commented, Older homeowners have an incredible opportunity in todays housing market to tap into a vital alternative source of funding.

Over 60% of Adult Children Say Inflation is Hurting Their Senior Parents, According to AAG Survey

Retrieved on: 
Wednesday, July 20, 2022
Association, Insurance, American Advisors Group, National Reverse Mortgage Lenders Association, Adult Children, Ageing, Parent, Reverse mortgage, Hardship, Retirement, Adult, Safety, Tax, HECM, AAG, Tutoring, Toy, Residential care

IRVINE, Calif., July 20, 2022 /PRNewswire/ -- Current economic conditions have many seniors struggling to afford their later years, and new data from American Advisors Group (AAG) shows that their hardship is causing stress among their older aged children. To learn exactly how American adult children are feeling about their parents' financial state, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents.

Key Points: 
  • To learn exactly how American adult children are feeling about their parents' financial state, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents.
  • The Data Shows Adult Children Are Worried About their Senior Parents Financially:
    The majority of adult children are concerned that inflation is hurting their parents' situation.
  • 62% of adult children say they are worried about the impact that inflation is having on their parents' finances.
  • 50% of adult children say they plan for their parents to move into their house in their later years.

AAG Partners with EZ-ACCESS as Official Home Equity Solutions Provider

Retrieved on: 
Wednesday, July 13, 2022
EZ, Tax, Family, Solution, National Reverse Mortgage Lenders Association, Environment, Travel, CEO, American Advisors Group, AAG, Retirement, World, Falls, Industry, Partnership, CDC, Security (finance), Life insurance, Health insurance

IRVINE, Calif., July 13, 2022 /PRNewswire/ -- American Advisors Group (AAG) , the nation's leader in home equity solutions, today announced its partnership with EZ-ACCESS , a division of Homecare Products Inc., a leading provider of quality access and mobility solutions.

Key Points: 
  • IRVINE, Calif., July 13, 2022 /PRNewswire/ -- American Advisors Group (AAG) , the nation's leader in home equity solutions, today announced its partnership with EZ-ACCESS , a division of Homecare Products Inc., a leading provider of quality access and mobility solutions.
  • It's a partnership that naturally embodies our core values of being caring, driven and ethical," said Scott Slifer, AAG Chief Administrative Officer.
  • "In 2022, the industry can expect AAG to bring more companies into our family of partners who align with our company mission and provide wholistic solutions to seniors both financially and in the home."
  • AAG's products allow seniors to responsibly access their home equity to make home modifications needed to remain in their home long term.

AAG Names Financial Services Industry Veterans to Key Roles Expanding Leadership Bench

Retrieved on: 
Wednesday, July 6, 2022
National Reverse Mortgage Lenders Association, City National Bank, Risk, Industry, AVP, American Advisors Group, Nate, Control, AAG, Business development, Retirement, USAA, Leadership, Program, Management, Bank

These appointments are the latest in a series of high-profile leadership acquisitionsas part of AAG's 2022 corporate development plan.

Key Points: 
  • These appointments are the latest in a series of high-profile leadership acquisitionsas part of AAG's 2022 corporate development plan.
  • "We're excited to welcome these financial services industry veterans to our team.
  • They each bring nearly 30 years of experience and business acumen in key industry verticals like banking, lending, and customer experience," said Ed Robinson AAG President and Chief Operating Officer.
  • Nate brings 20+ years of experience in the mortgage and financial services industry, most recently serving as AVP, Real Estate Originations National Sales Executive for USAA.

Finance of America Reverse Earns Second Consecutive ‘Great Place to Work’ Certification™

Retrieved on: 
Thursday, June 30, 2022
Construction & Property, Insurance, Human Resources, Finance, Banking, Professional Services, REIT, Residential Building & Real Estate, National Reverse Mortgage Lenders Association, Mentorship, Retreat, Feedback, Great Places, Certification, Retirement, NYSE, FAR, Culture, Workplace, Solution, Family, Place, Management

Finance of America Reverse (FAR), a leading retirement solutions innovator, is proud to announce that it has been Certified by Great Place to Work for the second year in a row.

Key Points: 
  • Finance of America Reverse (FAR), a leading retirement solutions innovator, is proud to announce that it has been Certified by Great Place to Work for the second year in a row.
  • Great Place to Work Certification isnt something that comes easilyit takes ongoing dedication to the employee experience, said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work.
  • According to Great Place to Work research , job seekers are 4.5 times more likely to find a great boss at a Certified great workplace.
  • Great Place to Work Certification is the most definitive employer-of-choice recognition that companies aspire to achieve.

Caary Capital Opens Its Doors to the 70% of SME Owners Putting Their Personal and Family Finances at Risk to Fund Their Business

Retrieved on: 
Wednesday, June 29, 2022
Professional Services, Small Business, Technology, Software, Networks, Fintech, Accounting, CEO, Research, Probability, Leger, Dow Jones, Xero, Ownership, Ecosystem, Industry, Association, Software as a service, Koho (fintech), Bloomberg, Ageing, IDC, Risk, National Reverse Mortgage Lenders Association, CLA, SME, Partnership, DJSI, Science and technology in Asia, Small business, News, Multimedia, Bank, Financial services, Online shopping

70% of SMEs are having to put their personal and family finances at risk to fund their business by either continuing to rely on a personal credit card for business expenses or providing a personal guarantee to access corporate credit.

Key Points: 
  • 70% of SMEs are having to put their personal and family finances at risk to fund their business by either continuing to rely on a personal credit card for business expenses or providing a personal guarantee to access corporate credit.
  • At a minimum this creates inefficiencies, ties up their personal credit and prevents them from building business credit.
  • At the extreme, it puts their personal assets such as the family home at risk.
  • Through Xero, small business owners and their advisors have access to real-time financial data anytime, anywhere and on any device.

AAG Sponsors Annual Home Care Association of America Caregiver of the Year Award

Retrieved on: 
Monday, June 6, 2022
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These caregivers are the face of home care and they are lifelines for clients and their families as more and more people choose to receive care and services at home.

Key Points: 
  • These caregivers are the face of home care and they are lifelines for clients and their families as more and more people choose to receive care and services at home.
  • We're proud to sponsor The Caregiver of the Year Award and strengthen our relationship with in-home caregivers across the nation."
  • AAG is dedicated to helping older Americans find new ways to fund a better retirement through the responsible use of home equity.
  • Founded in 2002, the Home Care Association of America (HCAOA) is the unified voice of the home care industry, strengthening members through advocacy, education, and research.

Senior Home Equity Exceeds Record $10.6 Trillion

Retrieved on: 
Tuesday, April 26, 2022
National Reverse Mortgage Lenders Association, Ageing, Data management, Index, Risk management, FHA, United, Multimedia, Industry, Housing, Real estate, Ethics

WASHINGTON, April 26, 2022 /PRNewswire/ -- Homeowners 62 and older saw their housing wealth grow by 3.98 percent or $405 billion in the fourth quarter to a record $10.6 trillion from Q3 2021, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.

Key Points: 
  • The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose in Q4 2021 to 370.56, another all-time high since the index was first published in 2000.
  • NRMLA President Steve Irwin, said: "In just a few days, we'll be celebrating Older Americans Month.
  • For many, housing wealth is indeed their greatest asset, and tapping that equity, under the right circumstances, will enable a secure path to aging security.
  • Reverse mortgages are available to homeowners who are 62 and older with significant home equity.

Single Seniors Are Struggling to Retire According to AAG Survey

Retrieved on: 
Tuesday, April 19, 2022
Social Security, Association, Ageing, American Advisors Group, AAG, Reverse mortgage, National Reverse Mortgage Lenders Association, Insurance, Tax, Safety, Retirement, Income, HECM, Life insurance, Health insurance

IRVINE, Calif., April 19, 2022 /PRNewswire/ -- Inflation and the current economic climate have put a financial strain on older Americans, and new data from American Advisors Group (AAG) shows that unmarried seniors are the most affected. To learn exactly why single seniors are struggling to afford their retirement years, AAG, the nation's leader in home equity solutions for seniors, conducted the Modern Retirement Survey with over 1,500 participants ages 60-75.

Key Points: 
  • To learn exactly why single seniors are struggling to afford their retirement years, AAG, the nation's leader in home equity solutions for seniors, conducted the Modern Retirement Survey with over 1,500 participants ages 60-75.
  • The Data Shows Single Seniors Have a Harder Time Retiring:
    Single seniors are less comfortable with their current financial state and have more desire to increase their cash flow.
  • 46% of single seniors said they need to increase their monthly cash flow as compared to only 32% of married seniors.
  • 44% percent of single seniors said they have less money than they thought they would have as compared to just 32% of married couples.