Finance of America Reverse (FAR) announced on Tuesday the hiring of Mary-Alice Cárdenas as a reverse mortgage consultant, citing the additional market demand created by difficult retirement conditions including the COVID-19 pandemic as key in focusing on expanding its product availability to key areas of the country. Based in the San Francisco Bay Area, Cárdenas will report to FAR’s VP and Director of Government Relations Scott Norman, a member of RMD’s 2020 class of Changemakers.
In a career spanning over two decades, Cárdenas is said to have served well over 1,000 reverse mortgage customers in previous positions at companies including Reverse Mortgage Funding, LLC (RMF). Her new role will aim to elevate FAR’s sales, marketing, and customer service ecosystem, according to an announcement of her hiring.
“We are in growth mode and are continuing to invest in and build our field sales operations, including scaling the team with the most talented professionals in the business. We are thrilled that Mary-Alice has joined the FAR family,” said Norman in the announcement. “Her extensive knowledge, wide-ranging experience, and sincere heart for the industry will play an important role in our ability to offer the best products, services and solutions to our valued customers and partners.”
For her part, Cárdenas says that the reverse mortgage industry provides a path to helping a demographic she has abundant experience with given her history of professional experience.
“I love nothing more than to help seniors remain healthy and happy in their homes to fully enjoy their retirement years,” said Cárdenas in the announcement. “I feel fortunate to have developed life-long relationships with so many. I am excited to have joined FAR and the team who shares my commitment and values in educating and supporting the financial wellness for seniors.”
Before joining the reverse mortgage industry, Cárdenas worked in the realm of elder care with Alzheimer’s patients in Massachusetts and California, respectively. She graduated from the University of California, Los Angeles (UCLA) with a B.S. in psychology, and earned her Master’s in Public Health from the Boston University School of Public Health. She also has a certification from the American College of Sports Medicine, in addition to becoming licensed as a real estate salesperson in her early career.
According to data compiled by Reverse Market Insight (RMI), FAR is the third largest reverse mortgage lender in the country, logging 4,258 endorsements over the 12-month period ending in January, 2021. According to segmented wholesale and retail channel data, FAR is the largest wholesale originator of HECM loans in the 12-month period ending in November, 2020.
Recently, the RMD Podcast featured Jonathan Scarpati, FAR’s VP of wholesale lending, as a discussion guest. Listen to that episode.