issue, we get into some of the details behind NRMLA’s “Code of Ethics & Professional Responsibility” and how it correlates to real-world regulations coming from state and federal agencies. The article Advertising Rules Explained (p. 28) centers on a presentation by James M. Milano and Joel Schiffman, attorneys with Weiner Brodsky Kider PC, who have helped develop NRMLA’s code of ethics. Over the years, they have created what they call “The Dirty Dozen,” which provides guidance on best practices for complying with marketing and advertising rules. They outline some of the common pitfalls and mistakes that lenders make when trying to increase their sales, whether they are using their own marketing and advertising materials or promotions created by third parties. Frankly, Milano points out, “it’s no excuse” if a third party creates a campaign on your behalf and you have not properly vetted it. HECM for Purchase Another challenge this year has been the rising interest rates and how best to adapt. Previously, we touched on how the HECM for Purchase can be a terrific way for someone to get a new home using the reverse mortgage product. In the article Grow Your Business Through HECM for Purchase (p. 24), Berg talks to several experts about how they have capitalized on these products with success. “The biggest effort and focus for us at RMF [Reverse Mortgage Funding] has been educating real estate agents and builders,” Rob Cooper, national director of the builder/Realtor HECM for Purchase program at RMF, says in the article. “We want them to understand that this loan is an option for their potential homebuyers and customers looking to list their homes for sale.” We also learn about the huge untapped potential for the product, with the HECM for Purchase accounting for only 4.2 percent of HECM endorsements in 2021. Another highlight in this edition is an interview with Ed Robinson, American Advisors Group president and chief operating officer since August 2021. Robinson, a member of the NRMLA Board of Directors, discusses his military career and experience in lending in the From the Top Q&A article (p. 12) by Darryl Hicks, NRMLA vice president, communications. In addition to talking about leadership, he discusses the possibilities for the future, among other issues. “When you think about folks who are living on a fixed income, reverse mortgage solutions are a legitimate answer,” Robinson tells Hicks. “I really believe it’s on us to turn that ability, if you will, for reverse mortgage solutions into customer propensity and engage them in a meaningful way that drives adoption.” In Reverse In Reverse continued from page 3 (800) PRClosings.com PRCwhat you need to succeed W h h 225,000 , u u PRC! Contact us today for more information! We provide Trust and POA reviews, 24-month tax histories, curative work for old liens, a quarterly CRMP credit course, in-house legal, and numerous additional effective business tools to ensure your success! PRC is a one-stop shop for YOUR reverse mortgage title and settlement needs. 4 REVERSE MORTGAGE / SEPTEMBER–OCTOBER 2022
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