NRMLA Begins Reverse Mortgage Borrower Outreach With New Consent Form

The National Reverse Mortgage Lenders Association is launching a borrower outreach effort through the distribution of a new consent form the association has developed for its members. 

The form, which NRMLA encourages lenders to include in loan closing packages, requests contact information for the borrower if he or she chooses to share it. The collection of the information will be protected by NRMLA and used only for purposes specified by the association in an email to members. 

“NRMLA is frequently contacted by news reporters who want to interview consumers who have gone through the process of getting a reverse mortgage,” NRMLA writes in the email. “In order to build a repository of borrowers who are willing to share their positive experiences with reporters, the association, in consultation with counsel, has created a new consent form that members are encouraged to distribute in their closing packages.”

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The association instructs lenders to include the form on company letterhead with the request made in the name of the lender or originator. 

The consent form asks for the borrower’s name, phone number and/or email address, as well as city and state—information if included, will be kept confidential, NRMLA says. 

“NRMLA will appropriately safeguard such information provided to it, by holding it confidential, limiting its access to only those within NRMLA expressly authorized to access it, and accessing it only for the purpose of identifying, for NRMLA or for news reporters, borrowers who have so consented,” NRMLA writes. 

View the consent form. 

Written by Elizabeth Ecker

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  • Something else to explain to a borrower. You have got to be kidding. At what point in the loan process is NRMLA asking that the consent form be completed? I am sure that financial advisors and elder law attorneys will feel real comfortable knowing that their clients are signing any document allowing the press to interview or reach out to them.

    So what if NRMLA is having a hard time with this. Let servicing handle this as part of their welcoming send out.

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