Finance of America Reverse LLC (FAR) this week announced the promotion of Scott Norman to Vice President of Strategy and Government Relations.
Effective November 1, 2016, Norman’s new role will make him responsible for managing industry and public policy issues impacting FAR at both the state and federal levels. He will also maintain his role as Vice President of National Retail Sales for the company.
“Scott has always been an incredibly knowledgeable and passionate advocate for the reverse mortgage industry at both the state and federal levels,” said FAR Chief Sales Officer Sherry Apanay in a press release issued Tuesday. “His commitment has been proven year after year and we’re excited to support his new strategic role at the federal level.”
A tireless advocate for both FAR and the entire reverse mortgage industry throughout his career, in 2013 Norman was chairman of Texans for Proposition 5, which lobbied for a state constitutional amendment to allow reverse mortgages to be used for home purchases—an amendment which has since passed in the Lone Star State.
Norman also established the Texas Association of Reverse Mortgage Lenders, an organization which led the original 1999 campaign to amend the Texas Constitution to allow reverse mortgages to be offered in the state. He personally closed the very first reverse mortgage loan in the State of Texas.
Norman has also shared his expertise through frequent testimony regarding reverse mortgage lending before the Texas Legislature.
Previously, Norman has served as past president of both the Texas Mortgage Bankers Association and the Austin Mortgage Bankers Association.
For the past 16 years, Norman also has helped organize an annual conference event in Texas focused specifically on reverse mortgages. The most recent gathering, the 16th Annual Reverse Mortgage Day, was held September 6-7, 2016 in Dallas.
“I am very optimistic about the reverse mortgage industry and how I may be able to positively impact its future by nurturing relationships with stakeholders and academic researchers,” Norman said in a release. “Monetizing home equity as a retirement option is a substantial opportunity for older adults and I look forward to developing and deliberating its application with my colleagues at the highest levels of our government.”
Since 2014, Norman has served as FAR’s Vice President of National Retail Sales, a role in which he is responsible for the oversight of the company’s retail sales business and reports to FAR’s Chief Sales Officer, Sherry Apanay.
FAR is a top-10 reverse mortgage industry lender. Year-to-date, the company totaled 3,397 Home Equity Conversion Mortgages through October 2016, according to the latest industry data tracked by Reverse Market Insight.
Written by Jason Oliva