AAG’s Jesse Allen on the future of reverse mortgages
September 27, 2021
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Today’s HousingWire Daily features a crossover episode with the RMD Podcast, a monthly podcast covering hot topics in the reverse mortgage industry hosted by Chris Clow, editor at HW Media’s latest acquisition, Reverse Mortgage Daily. The episode features an interview with Jesse Allen, Executive Vice President of Alternative Distribution at American Advisors Group.
In this episode, Clow sits down with Allen to discuss the current landscape of the industry in terms of AAG’s efforts, as well as trends emerging from competitors and volume levels in the final stretch of the summer.
Here’s a short preview of the interview you can find in the episode, lightly edited for concision and clarity:
Chris Clow: In terms of the challenges [on the industry’s] the operational side… how does AAG respond to those?
Jesse Allen: The challenge of evolving our capabilities is more acute in this industry than other more mainstream industries. Take technology as an example, and I think I think the pandemic really brought this to light for a lot of folks. This has been such a niche industry, there hasn’t been the robust investment in technology to take out cost, improve manufacturing quality, and deliver a great loan officer and customer experience. That dialogue [and] investment hasn’t happened as vigorously in reverse as it has in traditional mortgage, as an example.
And so, I think the industry, there’s more of that going on today than ever before, which is really exciting. And I think the industry will figure that out. But, I do think that is one thing that we have to figure out if we’re really going to serve more of those 78 million potential buyers if you think about [clients aged] 55 and up, and what they’re growing to.
HousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch.
