American Advisors Group has named Joe Stephenson senior vice president of operations. As such, Stephenson will oversee operations for all of AAG’s sales channels, including its call center, national field sales division and wholesale division.
Stephenson will report to Paul Fiore, AAG’s chief retail sales and operations officer, and Jesse Allen, executive vice president of alternative distribution.
The hire comes not long after AAG, a leading lender in the reverse mortgage space, launched a massive rebrand to become a holistic provider of home equity solutions.
As part of this move, the company expanded its suite of product offerings beyond reverse mortgages to include traditional mortgage products and real estate services designed to help seniors utilize their equity to “retire better.”
Stephenson, who has more than 20 years of mortgage industry experience, worked previously as head of mortgage operations at Morgan Stanley. Prior to that, he was COO of Bank of America’s reverse mortgage division.
“Joe and his team will take the lead in building new processes focused on optimizing operations and capitalizing on synergies throughout the business,” said Fiore. “We’re excited to see Joe’s ideas come to life, as he partners with leaders across the enterprise to scale operations for projected future growth.”
“Bringing Joe on board furthers our commitment to building an industry-leading platform,” added Allen. “Joe’s depth of industry knowledge and impressive experience made him an optimal choice for us.”
