Lender Lead Solutions announced today that it 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. Together 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. The announcement comes during Senior Independent Living Month which promotes social responsibility, ethical treatment of seniors, and helps brokers work in an ethical fashion to gain the confidence and respect of their clients and prospective clients.
Starting today 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, 2008. 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. NRMLA has also released two ethics advisory opinions this year:
- Ethics Advisory Opinion 2008-01: Ethical Advertising
- Ethics Advisory Opinion 2008-02: Ethical Cross Selling of Other Financial and Insurance Products and Services
“Lender Lead Solutions has always encouraged and counseled members to treat customers with the utmost respect and professionalism and we have taken steps to formalize the process,” said David Peskin, chief executive officer of Lender Lead Solutions. “We believe that as leaders in the industry, it is our responsibility to serve and protect the customer and the integrity of the reverse mortgage product. We are committed to implementing NRMLA’s Code of Ethics and its Advisory Opinions on advertising and marketing into all aspects of our business.”