As more lenders expand into the reverse mortgage business and more products are introduced, NRMLA’s Standards and Ethics Committee published the Code of Ethics & Professional Responsibility to help strengthen the ethical framework that every member must follow.
All members must sign a copy of the Code of Ethics & Professional Responsibility when joining or renewing membership.
In addition, the Standards and Ethics Committee has published advisory opinions to help clarify certain parts of the Code of Ethics.
All documents can be downloaded below. You can also submit an official complaint if you see a questionable advertisement or inappropriate behavior that may violate NRMLA’s Code of Ethics. Be sure to include any relevant supporting documents, with the complaint form, that will help us during the investigation.
- Code of Ethics & Professional Responsibility
- Ethics Advisory 2016-1: Unethical Planned Prepayment HECM Loans
- Ethics Advisory Opinion 2015-2: Ethical Refinancing of HECM Reverse Mortgage Loans and Anti-Churning Considerations—New Requirements
- Ethics Advisory 2015-01: Freedom Of Choice Remaining Draw Options After 12 Months/Ethical Obligations and Restrictions
- Ethics Advisory Opinion 2014-1— Ethical Refinancing of HECM Reverse Mortgage Loans and Anti-Churning Considerations
- Ethics Advisory Opinion 2013-4: Ethical Considerations Affecting HECM Loan MIP Premium Decisions
- Ethics Advisory Opinion 2013-3: Ethical Refinancing of HECM Single Disbursement Lump Sum Payment Option Loans and Anti-Churning Practices
- Ethics Advisory 2013-02: Full Draw HECM Loan Repayment Considerations
- Ethics Advisory 2013-1: Ethical Product Offerings
- Ethics Advisory 2012-1: Ethical Advertising Practice Requirements
- Ethics Advisory 2011-2: Ethical Refinancing of Reverse Mortgage Loans
- Ethics Advisory 2011-1: Wholesale Lenders, TPOs and Ethical Advertising
- Ethics Advisory 2010-2: Additional Ethical Advertising Practice Requirements
- Ethics Advisory 2010-1: Ethical HECM to HECM Refinancing and Anti-Churning Practices
- Ethics Advisory 2009-2: Lead Generation State Licensing Requirements and Ethical Advertising
- Ethics Advisory 2009-01: Ethical Offers of Other Financial and Insurance Products and Services
- Ethics Advisory 2008-01: Ethical Advertising