The National Reverse Mortgage Lenders Association (NRMLA) this week announced that Jonathan Scarpati, senior vice president of wholesale production at Finance of America (FOA), has joined its board of directors for the remainder of the 2024 term.
Scarpati is a 20-year reverse mortgage industry veteran, having joined Senior Lending Network in 2003 as vice president of sales for the company’s wholesale and lead distribution divisions. In 2014, Scarpati joined Urban Financial of America, the predecessor entity of Finance of America Reverse (FAR), which is now rebranding under the FOA umbrella.
Scarpati expressed excitement for his new role.
‘’I am extremely honored to serve on NRMLA’s Board of Directors for the rest of the 2024 term,” Scarpati said. “With over two decades of industry experience, paired with the fact that I have served in a range of sales and marketing roles, I have a unique perspective on the inner workings of the industry, including greater insight into what is happening on-the-ground in production.
“I am eager to continue our important work supporting the reverse mortgage industry and helping drive it forward so more older homeowners can use their home equity to live their best life in retirement,” he added.
NRMLA President Steve Irwin said he is looking forward to Scarpati’s contributions.
“I am delighted with Jonathan Scarpati’s acceptance of his nomination to the NRMLA Board of Directors,” Irwin said in a statement. “Given Jonathan’s deep experience in the reverse mortgage space, his participation will enhance our Board’s ability to meet the unique challenges facing our industry and help execute on our strategic imperatives for the reverse mortgage industry of tomorrow.”
FOA President Kristen Sieffert also lauded the appointment.
“Jonathan has been at the core of driving reverse mortgage adoption and awareness for the mortgage industry for over 20 years,” Sieffert said in a statement. “His deep experience of the category, coupled with his unique perspective of what wholesale partners need to succeed, make him very well suited for the NRMLA Board.
“We congratulate Jonathan on his well-deserved appointment and look forward to continuing to support the work and education needed to make home equity for retirement a mainstream concept.”
Scarpati’s entrance comes on the heels of a career transition for FOA’s Scott Norman, who was appointed as CEO of the Texas Mortgage Bankers Association (TMBA) earlier this month. Norman was in his fifth term as co-chair of NRMLA at the time of his appointment, and he previously served as FOA’s VP of field retail and director of government relations.
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