From his favorite movie and his favorite book to the craziest thing he’s ever done, we get the personal and professional facts from Robert Sivori, chief operating officer at Reverse Mortgage Funding LLC, in this month’s edition of The Hot Seat.
Ten years from now I would like to live in various cities around the world for six months at a time.
Something nobody knows about me is that I was a varsity cheerleader in college.
My favorite vacation was in the Catskill Mountains, where we rented a small ski house with two other families in the winters of 2005 and 2006.
My celebrity crush is Natalie Portman.
If I were a professional athlete I would be a skier.
The craziest thing I’ve ever done was skydive in 1979 and invest in a mortgage company in 2007, which curiously elicited the same feelings I experienced when free-fall skydiving.
If I had three wishes they would be to be as wise as Craig Corn, as good-looking as Reza Jahangiri, and to be able to disclose the HECM Origination Fee in Box 2 on the “Good Faith Estimate” because it sure seems like it’s an interest rate-dependent charge.
If I could meet anyone, past or present, it would be Donald Rumsfeld on September 10, 2001.
My favorite movie is The Godfather Part II, which is actually a management training film.
I never miss an episode of Glee… just kidding. I never miss Shameless.
I can't go without chocolate.
When I was a kid, I pictured my life looking pretty close to how it is today.
My favorite time of the day is the early morning, when my home is quiet and I have the newspaper all to myself.
My iPod go-to is “Days Like This” by Van Morrison, John Mellencamp’s version of “Wild Night” and The Civil Wars’ version of “Billie Jean.”
I always listen to National Public Radio. And Michele Zachensky. And Jean Noble.
The best lesson I've ever learned was stated by Randy Pauch in his book The Last Lecture: “The brick walls are there for a reason. The brick walls are not there to keep us out. The brick walls are there to give us a chance to show how badly we want something… They’re there to stop other people.”
The best purchase I've ever made was education for my children.
My favorite book is The Alchemist by Paulo Coelho.
If I could trade places with someone for a day, I would be Leonardo DiCaprio or HUD Secretary Shaun Donovan, for entirely different reasons.
If I could time travel, I would go back to 1998 so I could talk to my father and grandparents. They were so much wiser than I was aware of at the time.
The biggest challenge in the reverse mortgage industry will be adjusting origination business models to adapt to the HECM program changes that took effect October 1.
Ten years from now, the reverse mortgage industry will be balanced with products provided through both government and non-government programs.
The most important thing financial advisors can learn about reverse mortgages is that reverse mortgage products can provide a dignified and financially secure retirement for their clients.
Industry growth is dependent upon bringing the concept of home equity into discussions and modeling software for retirement income planning.
The ideal leaders in the industry are ethical individuals who can think strategically and long term, and who can link a sustainable HECM program to a sustainable business model.