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MBA calls for uniform national regulation of mortgage lending

National Mortgage Professional
Mar 24, 2009

NRMLA hosts ethics classes to boost lender educationMortgagePress.comNRMLA, reverse mortgages, ethics, seniors, Peter Bell, James Brodsky, Certified Reverse Mortgage Professional designation As part of its ongoing effort to reassure America's seniors applying for reverse mortgages that members of the National Reverse Mortgage Lenders Association can be trusted and depended upon, NRMLA held the first in a series of interactive workshops to teach lenders how to implement the association's Code of Ethics and Professional Responsibility into their everyday business routines. "NRMLA's mission has always been to protect the rights of seniors; making sure that senior homeowners fully understand the details of any reverse mortgage they're considering and that they are treated with dignity and respect from start to finish," said NRMLA President Peter Bell. "Because our industry is growing, we want to be proactive in making sure members fully understand the practical aspects of our Code of Ethics and how it applies to their daily business activities." During the three-hour workshop, Bell and legal counsel James Brodsky, of the law firm Weiner, Brodsky, Sidman, Kider, PC, Washington, D.C., instructed members on the finer points of the Code of Ethics and then organized role-playing sessions that simulated discussions between lenders and clients focusing on what is acceptable behavior and what is not. Participation in the workshop is a requirement for all candidates seeking NRMLA's new Certified Reverse Mortgage Professional designation (CRMP), which will be launched this summer. The ethics workshop will be offered at all future NRMLA conferences. The inaugural workshop took place after NRMLA hosted the first in a series of regional conferences in Boston on March 18-19. The association next regional events are scheduled in Chicago (April 22-23) and Orlando (May 6-7). Other important topics discussed at the Boston conference, included updates on the new HECM for Purchase program, cross-selling restrictions being imposed by the Department of Housing and Urban Development, the growing role of Ginnie Mae in the secondary market for reverse mortgages, and updates from state regulators. For more information, visit www.reversemortgage.org.
Published
Mar 24, 2009
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