Finance of America Promotes Jonathan Scarpati to Chief Production Officer
Scarpati to lead FOA's production organization, driving strategic cohesion and operational efficiency between wholesale and retail.
Finance of America Reverse LLC ("Finance of America" or the "Company"), a leading provider of home equity-based financing solutions for a modern retirement and a part of Finance of America Companies Inc. (NYSE:FOA), announced the promotion of Jonathan Scarpati to Chief Production Officer. This new strategic position will strengthen FOA's leadership in an area that is essential to the company's long-term growth plans and further its efforts to make home equity for retirement a mainstream solution.
In his new role, Scarpati will oversee both wholesale and retail production, helping optimize internal structures and accelerate performance gains that will propel the company forward in its next stage of growth. Scarpati has a wealth of industry experience and was previously Senior Vice President of Wholesale Production. Under his leadership, the wholesale team has consistently ranked as one of the top producing wholesale originators in the reverse mortgage industry.
"Jonathan has been at the core of driving reverse mortgage adoption and awareness in the industry for over 20 years, and we're excited to extend his leadership abilities to accelerate performance as we modernize our brand and expand our reach," said Kristen Sieffert, President of Finance of America. "This promotion is a direct reflection of his dedication, expertise, and passion, all which have been instrumental in our growth and industry leadership as one of the top originating wholesale platforms for more than a decade."
"I'm energized to take on the newly created role of Chief Production Officer and to continue working alongside these outstanding teams as we drive the category forward," said Scarpati. "Each of the channels has its role in Finance of America's growth, and each has unique strengths. With strong collaboration with operations, we will amplify our results, and the channels will work in tandem to increase market penetration. Supporting both the borrower and the partner has always been our core, and I look forward to raising the bar on both fronts."
Scarpati has been with Finance of America for 15 years and currently serves on the Board of Directors for the National Reverse Mortgage Association, giving him a unique, industry-level perspective on what it will take to grow the reverse mortgage category. He spent his first six years in the reverse mortgage industry at Senior Lending Network/Lender Lead Solutions, where he served as the Vice President of Sales for the Wholesale and Lead Distribution divisions. Scarpati graduated from the University of Delaware, where he earned his B.S. in Leadership and Consumer Economics.
Finance of America recently announced the additions of a Chief Information Officer and a Chief Customer Officer, and its parent company announced two new additions to the Finance of America Companies Board of Directors. Each of these strategic appointments are aligned to build leadership around future expansion and further the company's long-term growth plans.
About Finance of America
Finance of America Reverse LLC dba Finance of America (NMLS 2285) is a modern retirement solutions platform that provides customers with access to an innovative range of retirement offerings centered on the home and is the consumer brand and reverse mortgage operating subsidiary of its parent company, Finance of America Companies Inc. (NYSE:FOA). In addition to the reverse mortgage business, Finance of America Companies offers capital markets and portfolio management capabilities primarily to optimize the distribution of its originated loans to investors. Finance of America is headquartered in Plano, Texas. For more information, please visit www.financeofamericacompanies.com.
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