Lender Lead Solutions Takes Lead on Code of Ethics

by 03 Jun 2008
--Reverse mortgage leader adopts strict guidelines on ethical advertising, marketing and sales practice and implements training programs to promote best practices-- MELVILLE, N.Y., June 3, 2008 ?Lender Lead Solutions, the wholesale division of World Alliance Financial Corp., an industry leader in reverse mortgages, 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. Effective 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. Lender Lead Solutions has made serving seniors with professionalism and integrity its trademark. The company will now require that each member commit to the Code of Ethics and Ethics Advisory Opinions brought forth by NRMLA. 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. Additionally, all members will be required to adhere to the guidelines listed in the NRMLA Ethics Advisory Opinion 2008-1 and 2008-2, which addresses ethical advertising and marketing of reverse mortgage products. ?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.? 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 understands the importance of the new policies and best practices. NRMLA was established in 1997 to promote professionalism in the reverse mortgage industry. NRMLA requires each member of their organization to follow a set of values that ensure their members are fair to consumers and treat them with respect and dignity. NRMLA members must also take appropriate measures to protect confidential information of all clients. They are required to gain and possess knowledge, skill and experience concerning reverse mortgages. Adopting NRMLA?s guidelines on the standards for ethical advertising, marketing and interacting with seniors ensures Lender Lead Solutions and its members will always be viewed as upstanding and professional in the industry. About Lender Lead Solutions Lender Lead Solutions is the wholesale division of World Alliance Financial Corp., a member of the KBC Group and one of the premier reverse mortgage services company in the nation. World Alliance Financial is dedicated to building the reverse mortgage industry by fostering deep partnerships with mortgage companies and by providing outstanding consumer education. Through the company?s national consumer education campaign, Senior Lending Network, the company educates millions of Americans about the important benefits of reverse mortgages and then links interested consumers to qualified and experienced originators, who have access to Lender Lead Solutions? wholesale reverse mortgage products, technology and educational services. For more information call 1-888-775-3631 or visit the company?s Web site at www.lenderleadsolutions.com.


Should CFPB have more supervision over credit agencies?