New Resources for Your Clients To help commemorate #OlderAmericansMonth in May, NRMLA’s PR Committee created two new resource guides that members are encouraged to share with their clients, family members and trusted advisers. They are: • Should Mom or Dad Get a Reverse Mortgage? This is a trifold brochure that explains what a reverse mortgage is, why individuals get them, the factors that determine the amount of proceeds someone is eligible to receive, the costs and more. You can customize the back cover with your contact information; and • A Spanish-language version of the consumer guide, Reverse Mortgage Self-Evaluation: A Checklist of Key Considerations. This guide poses seven questions and important considerations that interested consumers should ask themselves, and think about, before proceeding with a loan application. Thank you to Cesar Hernandez of Premier Reverse Mortgage for translating the consumer guide. Download Should Mom or Dad Get a Reverse Mortgage? at bit.ly/3AdibuW. Download Reverse Mortgage Self-Evaluation at bit.ly/3ukJjEr. Need NMLS Credits? NRMLA Has Your Back Now is that time of year when loan officers are scheduling the 8 Hour SAFE class to earn their NMLS credits and maintain their federal license into 2023. NRMLA’s 8 Hour SAFE course, taught in partnership with Loan Officer School, offers the most content devoted almost exclusively to reverse mortgages. Benefits include: • Watching and listening—no reading; • Not a second of time more than what’s expected; and • No test or quiz of any kind. In addition to earning your federal NMLS credits for 2023, individuals who have the CRMP designation or may be pursuing the CRMP should take the course, because they can earn eight credits and complete the mandatory ethics workshop. Sign up today at bit.ly/3I9p5mF. NRMLA Launches On-Demand Learning Platform To further enhance members’ continuing education opportunities, NRMLA launched an on-demand learning platform on www.nrmlaonline.org. Three courses are currently available: • Mitigating Inflation with a Reverse Mortgage; • Preparing for a Successful Reverse Mortgage Closing: Notary Best Practices; and • Preparing for a Successful Reverse Mortgage Closing: Loan Officer Best Practices. More courses will be added throughout the year. NRMLA Launches DEI Resource Page NRMLA’s DEI Committee officially launched its Diversity, Equity and Inclusion (DEI) Resources page. It is our mission at NRMLA to strengthen the reverse mortgage ecosystem by promoting DEI practices. Please find resources on several topics at bit.ly/3AlnLeU. If you have any questions, please contact Darryl Hicks at dhicks@dworbell.com. CFPB Report Highlights Lender Violations In its spring “Supervisory Highlights” report, published in May, the Consumer Financial Protection Bureau (CFPB) emphasized violations involving compensation for loan officers and changed circumstances that NRMLA felt should be shared with the membership. The CFPB publishes “Supervisory Highlights” to help institutions and the public better understand how it examines institutions for compliance with People are talking about ... What’s News EVERYTHING NEW YOU NEED TO KNOW 8 REVERSE MORTGAGE / SEPTEMBER–OCTOBER 2022
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