NRMLA has a committee structure to respond more effectively to the growing number of issues being addressed by the association and to create more opportunities for members to become actively involved.
To learn more about any of the following committees, please contact Steve Irwin, NRMLA’s Executive Vice President, at firstname.lastname@example.org.
Chairs – Jim Cory, Live Well Financial, Inc. & Dan Hultquist, Open Mortgage
Our newest committee, the Education Committee will help bolster the educational foundation of reverse mortgage industry participants through curriculum development and exploring alternative delivery channels.
Chairs – Sarah Cavanaugh, 1st Reverse Mortgage USA & Barry Scoles, Georgetown Mortgage, LLC
There is probably no more important time than now to make ethics the highest priority for the industry. Any practice that does not put the customer first is not only bad business, it is harmful to the rest of the industry participants who “do the right thing.” Our members have asked us to play a strong role in this regard. The committee enforces the Code of Ethics & Professional Responsibility by evaluating ethics complaints, imposing enforcement actions, and coordinating the issuance of advisory opinions.
The Committee’s objectives for 2015 will be to re-evaluate the complaint process and to re-evaluate its enforcement action procedures.
Risk & Compliance Committee
Chair – Karim Hatata, Liberty Home Equity Solutions
Managing risk and understanding the evolving compliance landscape is top of mind for the management teams of our membership. The committee has been very active for most of 2015 and has tackled such issues as the implementation of New Hampshire House Bill 594, evaluating the compliance impacts of the recent HECM program changes (including loan docs and borrower disclosures), drafting and submitting comments on HUD’s proposed Quality Loan Practices, and discussing FTC guidance on identifying Red Flags and Identity Theft.
The Committee’s next objectives will be to draft best practices around Principal Limit Locks and preparing educational content around fair lending practices for the broader membership.
Independent Certification Committee (ICC)
Chair- Brett Krikpatrick, Harbor Mortgage Solutions
The ICC is charged with the development and implementation of policies and procedures to assure the operation and administration of the Certified Reverse Mortgage Professional (CRMP) designation is executed in conformance with best certification practices. This committee provides oversight to the development and administration of a legally defensible, valid and reliable certification examination. It assures the item bank is sufficient and adequately maintained. The committee also provides oversight to the development of all program components including, but not limited to: eligibility criteria, re-certification requirements, ethics and disciplinary procedures.
The main objective before the ICC in 2015 is to re-evaluate the certification exam in light of the recent HECM program changes.
- CRMP Eligibility Committee (Operates under the ICC)
The Eligibility Committee evaluates outside course submissions and determines whether they should be awarded continuing education credits.
- CRMP Ethics Committee (Operates under the ICC)
The Ethics Committee is an ad hoc committee that will convene when professional designees violate the Code of Ethics and Professional Responsibility. This committee has not had to take action as of this date.
- CRMP Exam Committee (Operates under the ICC)
The Exam Committee is comprised of subject matter experts who are charged with evaluating the current CRMP exam and making appropriate changes.
HMBS Issuer Committee
Chairs – Mike McCully, New View Advisors, LLC & Darren Stumberger, Live Well Financial, Inc.
The HMBS Issuer Committee has been very active for the past couple of years. The committee has considered the “True Sale” issue and was instrumental in presenting the case to HUD, GNMA and the SEC. More recently, the committee has considered such issues as the 98% buy out requirements and the topic of platinum securities. The main objective for the committee in the coming year will be to engage in regular meetings with GNMA.
HUD Issues Committee
Chairs – Mark Browning, HomeChex Mortgage; Nick Buscaglia, M&T Bank; Elly Johnson, Reverse America Advisors
The HUD Issues Committee is a long-standing NRMLA committee that continues to dialogue with HUD on its most pressing issues. The committee has worked on such issues as HECM for Purchase Underwriting issues and proper usage of ADP codes. The past few months have seen this committee work very collaboratively on the Financial Assessment Application recommendations through its sub-group, the FA Working Group.
Chair – Jason McNamara, Celink & Teague McGrath, American Advisors Group
The PR Committee has recently reconvened and will be charged with implementing various extreme summit initiatives.
State & Local Committee
Chairs – Scott Norman, Urban Financial of America & George Lopez, James B.Nutter & Company
The State & Local Committee has been a fairly re-active committee engaging in legislation as it arises at the state level. Recent efforts include efforts in CA, MN, MA, MS, IL, TX, etc. The committee leadership is launching an initiative to engage members in more proactive outreach at the state level and will enable rapid response teams to engage at the state level, should the need arise.
Chairs – Ryan LaRose, Celink & Linda Bridges, Wells Fargo Home Mortgage
The Servicing Committee is another long standing committee with an outstanding record of active engagement. The committee has spent most of the past year working on HERMIT implementation issues and due and payable issues. This committee’s presentation at the recent NRMLA conference was a stand-out session and the need for the committee to develop additional educational materials for the membership.