Lender Lead Solutions, the wholesale division of World Alliance Financial Corp., has begun adopting the National Reverse Mortgage Lender Association's (NRMLA) formal Code of Ethics and Ethics Advisory Opinion 2008-1 and 2008-2 for its members. These policies elevate and promote the needs of seniors above all else in discussions about reverse mortgages and clearly define standards for ethical advertising, marketing and interacting with seniors, says Lender Lead Solutions.
The company is requiring that all new members sign an agreement to abide by these policies before beginning a business relationship. All existing members will be required to sign off on an addendum by July 3.
Included in the terms of the Code of Ethics agreement are guidelines and requirements that members only sell products that meet and are in accordance with the best interests of the borrower. The Code of Ethics also ensures prospective borrowers fully understand every aspect and detail of the reverse mortgage they are purchasing.
To assist its members in understanding the nuances of these policies, the company also plans to offer training programs through its newly expanded Lender Lead Solutions University (LLSU) program. Several new courses have been recently established to guarantee all internal staff members understand the importance of the new policies and best practices, Lender Lead Solutions adds.
Source: Lender Lead Solutions