Mortgage applicant experience becomes increasingly contactless.
Irvine, Calif. (Sept. 15, 2021) — American Advisors Group (AAG), a leading provider of home equity solutions for retirement, formally announced today a new online loan portal, My AAG Loan, that streamlines the mortgage loan application process. The portal is part of AAG’s broader strategy of reimagining its consumer-facing infrastructure to meet the needs of a changing demographic.
“We’re always looking for ways to make our products more convenient for seniors and that now means providing more online capabilities,” said Martin Lenoir, AAG’s Chief Marketing Officer. “The pandemic pushed older Americans into the digital world and that prompted us to make some improvements. Now many of our customers expect to handle their paperwork digitally and prefer the flexibility that the online portal gives them.”
AAG mortgage applicants now have access to information through a reliable AAG online portal that provides several new features including:
- Automated loan status updates
- Notifications when a document is needed
- The ability to view documents required to clear the loan
- Ability to electronically upload loan documentation
The Pew Research Center recently released data that shows Americans 60 and older are spending more time in front of their screens than a decade ago. The amount of time that Americans ages 60 and older spend on their electronic devices has risen almost half an hour per day over the past decade, according to the Pew Research Center analysis of Bureau Labor Statistics data, even as screen time among younger people has held steady. According to AARP research, more older adults (44%) view tech more positively as a way to stay connected, than they did before Covid-19.
Initial feedback from customers has been positive as seniors have appreciated the increased transparency and ability to see transactions online. AAG will continue to offer its traditional loan process with hard copy documents and mail services alongside its online portal for those who do not have access to internet or prefer the in-person method. AAG also just announced the ability for customers to choose an E-sign option for closing documents, resulting in an easier overall process.
AAG’s consumer website, AAG.com, attracts over 40,000 visits per month and the company expects the new online portal to become more popular as more seniors continue to adopt technology.
AAG is dedicated to helping older Americans find new ways to fund a better retirement through the responsible use of home equity. As the nation’s leader in reverse mortgage lending, AAG offers a suite of home equity solutions — including Home Equity Conversion Mortgages, traditional and proprietary mortgages, and real estate services — that are designed to give seniors a better financial outcome in retirement. AAG is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). To learn more about AAG and reverse mortgage loans, please visit the company’s website at www.aag.com.
American Advisors Group, NMLS ID: 9392, 18200 Von Karman Ave., Suite 300, Irvine, CA 92612. AAG Residential Services, Inc., 18200 Von Karman Ave., Suite 950, Irvine, CA 92612. Real estate broker, California Department of Real Estate, License number 02039087. AAGRS is performing acts for which a real estate license is required.