this National Reverse Mortgage Association (NRMLA) announced this week that Jonathan Scarpati, Senior Vice President of Wholesale Manufacturing American Financial (FOA) has joined its board of directors for the remainder of the 2024 term.
Scarpati is a 20-year veteran of the reverse mortgage industry, having joined Advanced Lending Network In 2003, he served as Vice President of Sales for the company’s wholesale and lead distribution divisions. In 2014, Scarpati joined American City Financial Corporationpredecessor entity American financial reverse (FAR), which is currently undergoing a rebranding under the FOA banner.
Scarpati expressed excitement about his new role.
“I am extremely honored to serve on the NRMLA Board of Directors for the remainder of my term in 2024,” Scarpati said. A unique perspective on the inner workings of the industry, including a deeper understanding of what’s going on – the fundamentals in production.
He added, “I’m eager to continue our important work supporting the reverse mortgage industry and help drive it forward so that more older homeowners can leverage their home equity to live their best life in retirement. “
NRMLA President Steve Irwin said he looks forward to Scarpati’s contribution.
“I am pleased that Jonathan Scarpati has accepted his nomination to the NRMLA Board of Directors,” Owen said in a statement. “Given Jonathan’s extensive experience in the reverse mortgage space, his participation will enhance our board’s ability to address the unique challenges facing our industry and help execute on our strategic imperatives for the future of the reverse mortgage industry.”
FOA President Kristen Sieffert also expressed her appreciation for the appointment.
“Jonathan has been a central figure in driving reverse mortgage adoption and raising awareness in the mortgage industry for more than 20 years,” Sievert said in a statement. “His extensive experience in the category, combined with his deep knowledge of the The unique perspective needed for wholesale partners to succeed makes him a perfect fit for the NRMLA Board of Directors.
“We congratulate Jonathan on his well-deserved appointment and look forward to continuing to support the work and education needed to make retirement home equity a mainstream concept.”
Scarpati’s arrival follows a career change from FOA’s Scott Norman, who was named chief executive of the company. Texas Mortgage Bankers Association (TMBA) earlier this month. Norman, who is serving his fifth term as NRMLA Co-Chair at the time of his appointment, previously served as FOA’s Vice President of Field Retail and Director of Government Relations.
