Aside from lenders not using literature, and not paying or authorizing deceptive ads, a seal of approval from the NRMLA, prominently displayed on literature, would offer a buyer a lot of confidence in the product. (Unless, there already is one. If so, I apologize.) This would, usually, be coupled with publicity touting the organization to the public and the troops.

Raymond

So, that sounds like a plan. Support your organization, get it better known, and get its seal of approval.

The statement that NRMLA does not do anything about non-member companies is incorrect. Although we do not have the ability to utilize the same sanctions as we do with our members, we can (and do) alert state and/or federal authorities to business practices that we believe to be in violation of rules and laws. We have a very specific process that we pursue to gather facts on a complaint, give the alleged violator a chance to respond, and develop the case fully before we act. If there is no response or an inadequate response from a violator we then act. For members, we have the ability to place them on probation, suspend or terminate membership. For both members and non-members, we can report to authorities, and/or name offendors publicly (but only after due process), so that other industry participants are forewarned, should they be dealing with such parties.

I find it ironic as I read this article about false and misleading practices that the Reverse Fiancial advertisement is flashing about their Pathway product and their Jumbo. Do these products really exist? Or are they marketing products designed to attract senior? I wonder?

What kind of process does NRMLA have to go through to remove false advertising from a paper? If the advertising is false, do you simply tell both the newspaper and the advertiser that the statements made in print are false? Isn’t that what the cynic did?

So who was responsible for the removal of the advertising the cynic wrote about? Aren’t we all responsible for speaking up to both educate and self-police our industry?

I realize NRMLA is neither omnicient not omnipresent and therefore cannot catch all false and misleading advertising done in the reverse mortgage industry either through ignorance or deliberate deception. I for one applaud the cynic for speaking up to the newspaper to remove at least one false ad. Of course,for every one squashed many others pop up. Oh well, we can but try. . . .