Metrocities is a
proud member of the National Reverse Mortgage Lenders Association.
We closely adhere the the NRMLA code of ethics outlined below.
Quoted from the NRMLA website:
"National Reverse Mortgage Lenders
Association (NRMLA) is the national voice of the reverse mortgage industry,
serving as an educational resource, policy advocate and public affairs
center for lenders and related professionals. NRMLA was established in 1997
to enhance the professionalism of the reverse mortgage business.
Our mission is to educate consumers about the pros and cons of reverse
mortgages, to train lenders to be sensitive to clients' needs, to enforce
our Code of Conduct and Best Practices, and to promote reverse mortgages in
the news media."
For more information:
National Reverse Mortgage Lenders Association
1400 16th St., NW
Suite 420
Washington, DC 20036
202-939-1760
THE NRMLA Code of Conduct
1) Treat all clients with respect
and dignity.
2) Protect the client’s privacy
and confidentiality and not distribute personal financial information to any
third party without permission from the client.
3) Encourage clients to discuss
the loan transaction with family members and/or other trusted advisors.
4) Inform clients at no charge
about all of the member’s reverse mortgage programs and assist each client
to determine the program most suitable for his or her needs.
5) When estimating potential
reverse mortgage benefits, clearly and accurately identify all costs.
6) Take reasonable steps to check
out the background and procedures of third parties before accepting
referrals of business from them, and refuse to accept referrals from those
that are found unacceptable. Members shall disclose to clients any third
party with a financial interest in the reverse mortgage transaction.
7) Not imply to a borrower that he
or she is obligated to purchase any other product or service offered by the
member or any other company in order to obtain a reverse mortgage.
8) Pay all loan proceeds directly
to the borrower, except to retire existing debt, pay a contractor from the
borrower’s repair set-aside account, or pay property taxes or hazard
insurance premiums from the borrower’s set-aside account for taxes and
insurance.
9) Employ individuals who have
passed a background check and are found to be of good moral character.
10) Report any suspected
violations of the Code of Conduct to the National Reverse Mortgage Lenders
Association, and cooperate with all their investigations.
11) Make a good-faith effort to
resolve concerns received from clients about a reverse mortgage transaction.
13) In all of their loan
origination arrangements, comply (with the advice of qualified counsel as
appropriate) with all applicable regulatory requirements including: (i)
provisions of the federal Real Estate Settlement Procedures Act barring
referral fees; (ii) state mortgage regulatory provisions requiring licensing
by loan originators, if applicable; and (iii) with respect to FHA-insured
HECM reverse mortgage loans, FHA provisions requiring licensing and
restricting employment arrangement.
For More information visit
http://www.reversemortgage.org
Help
me 
