Finance of America’s Jonathan Scarpati on shifting consumer behavior
Summary
Jonathan Skarpatti of Finance of America Reverse discusses how homeowners are increasingly aging in place rather than moving, driven by low mortgage rates and high home prices. He highlights a disconnect between borrower needs for home improvements and traditional equity products like cash-out refinances. Skarpatti advises lenders to shift from transactional sales to outcome-based conversations, using solutions like HomeSafe Second to help clients access equity while keeping their existing mortgages.
Topics discussed
Introduction and guest Jonathan Skarpatti
Market shift: Homeowners aging in place
Factors driving homeowners to stay put
Trend towards home renovation and improvement
Disconnect between borrower goals and products
Originators adapting to outcome-based conversations
HomeSafe Second solution and human-centric approach
Key takeaways for lenders and closing
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