The National Reverse Mortgage Lenders Association looks to be getting closer to rolling out its Certified Reverse Mortgage Professional (CRMP). The association unveiled a new section of its website to provide information for originators looking to earn the designation.
The website includes a link to the CRMP Candidate Handbook which describes all aspects of the certification process and helps candidates prepare for the exam. The handbook contains an overview of exam content, eligibility criteria, information on registering for the exam, guidelines for taking the exam and relevant policies and requirements.
All CRMP applicants must meet the following requirements:
- All loan officer applicants must have a minimum 2 years experience originating reverse mortgages and closed a minimum of 50 reverse mortgages.
- All other applicants who are not loan officers must have a minimum 5 years experience working in reverse mortgages in one or more of the following areas: underwriting, processing, management and operations, title and closing services, appraisals, and/or loan servicing.
- Within one year prior to taking the examination, applicants must complete 12 hours of continuing education from NRMLA or such other providers as approved by NRMLA in areas related to reverse mortgages and senior financial issues.
- Possession of a current mortgage loan originator license in your jurisdiction, if a license is required.
- Completion of a background check.
- Submission of a signed Consent Statement.
NRMLA is still finishing up final details for the certification including the application form and fees involved.
