Nov/Dec 2021 RMM

SINCE BECOMING PRESIDENT of Finance of America Reverse (FAR) six years ago, Kristen Sieffert has earned a rightful place as one of the top business leaders in the reverse mortgage industry. Her constant inquisitiveness and need to innovate, coupled with a compassion for consumers and promoting a work environment that empowers innovation and per- sonal growth, have consistently kept FAR near the top of reverse mortgage providers. Sieffert was fresh out of college in 2004, having grad- uated from UCLA with a bachelor’s degree in political sci- ence, when she started working as a wholesale sales repre- sentative with Irvine, CA-based Financial Freedom Senior Funding Corporation. She had no prior job experience in business or finance, but she was exceptionally driven, and that’s all it took to secure her climb up the corporate ladder. Reverse Mortgage magazine sat down with Sieffert to talk more in-depth about her leadership style and future priorities. Reverse Mortgage: How would you describe FAR’s business model today versus pre-COVID? Kristen Sieffert: We have always focused on ensuring the best experience for our borrowers and for our employees. There haven’t been any major business model pivots pre- COVID versus today. However, COVID has further amplified the need for us to continue to elevate and invest in that experience and further strengthen our business to support current market dynamics. Importantly, we are laser focused on compassionate borrower engagement. If we’re going to continue to transform legacy perceptions of the industry, we need to invest in every touch point that our borrowers, partners, estates and heirs have faced in the reverse mortgage process. The biggest focus for us right now is the experience that estates and heirs have when paying off a family member’s loan. That’s the next generation of borrowers. If we can provide ways to surprise and delight those people, it could really help create a more virtuous circle around our industry. RM: In the past year, FAR formed partnerships with the Center on Longevity at Stanford and the Financial Planning Association. Can you discuss the importance of these relationships? KS: We are committed to providing more comprehensive ways to help our borrowers thrive after they get a reverse mortgage. The Corporate Affiliate Program of the Stanford Center on Longevity was a really exciting opportunity. They’re at the forefront of some amazing, cutting-edge research around the aging of America and, even more broadly, on planning for a 100-year lifespan. It not only affects today’s retirees, but future generations who will be challenged with living longer. What tools do we need? What new perspectives do we need? Stanford’s research shows that people don’t plan. We want to take a good look at that research and figure out how can we help Stanford spread these messages that really are important for all of us to learn sooner rather than later. Separately, we developed Kristen Sieffert, President, Finance of America Reverse By Darryl Hicks From the Top Kristen Sieffert 12 REVERSE MORTGAGE / NOVEMBER-DECEMBER 2021