tional Reverse Mortgage Lenders Association (NRMLA) has issued two ethics advisories outlining the expected standards and practices in selling other financial products with reverse mortgages and standards for mortgage lead-generation activities. The first advisory, ‘Ethical Offers of Other Financial and Insurance Products and Services,’ discusses ethical practices in which members may refer, recommend, originate or sell other financial or insurance products. This guidance includes a framework for implementing the relevant provisions of the Housing and Economic Recovery Act of 2008 (HERA) requirements for firewalls and safeguards in offering other financial and insurance products. Important points here include the need to act in the client's best interest and the need to provide a bonafide advantage to the client, NRMLA says. The second advisory, "Lead Generation State Licensing Requirements and Ethical Advertising," lends guidance on how NRMLA members should engage in lead-generation activities. In this advisory, NRMLA says its ethics committee will report to government authorities and publicly identify member companies that are dismissed for violating the group's code of ethics. NRMLA says it may also take action to directly report nonmember violations of its code of ethics to federal, state and local entities, including – but not limited to – HUD, the inspector general, the Federal Trade Commission, state attorney general offices, licensing authorities and/or local consumer protection agencies. "NRMLA will continue to move in the direction of self-regulating, enforcing and taking action against any unethical activity, as the integrity and reputation of our industry depend on this," says Liz Scholz, chief operating officer of NRMLA. "We urge members and nonmembers to report any ethical infractions or concerns to NRMLA for further investigation." SOURCE