The REMALO Code of Ethics provides the standards and expectations shared by members of the Reverse Mortgage Marketing Advantages for Loan Officers (REMALO).  As a member you agree to be held responsible for your actions or failure to act in the best interest of your senior clients.

Each REMALO member is expected to adhere to the Code of Ethics.

All REMALO MEMBERS SHALL:

• Treat all clients with respect and courtesy.
• Provide the accurate informatio to all prospects and clients.
• Never force or coerce a client into making a decision that is not in his or her best interest.
• Clearly represent all products and services available without prejudice.
• Honor all wishes and desires of the client.
• Return all telephone calls and inquiries in a prompt and courteous manner.
• Maintain the security and privacy of all clients to protect and safeguard their personal information.
• Accurately explain and review all relevant disclosures by giving a clear and concise explanation of each.
• Re-disclose and update any data that should change or may adversely impact the senior client.
• Encourage senior clients to involve third parties when considering a financing decision.
• Keep yourself trained, engaged and updated on all industry aspects.  
• Maintain the highest level of trust, integrity, and professionalism.
• Do not cross sell products (ie annuities, LTC, Life) by establishing a secure firewall for an extended period of time.
• Inform borrowers who may not be age qualified of downside risk to moving forward with a reverse mortgage and insist all borrowers who are on title prior to application, take HUD counseling.
• Give clients a choice of at least 10 HUD counseling agencies.
• Do not steer clients toward 3rd party services.
• Keep clients informed of any changes during mortgage processing and prior to closing.
• Ensure all advertorials and solicitations meet best possible business standards and practices.
• Refrain from using the following words or phrases in your marketing:
  "eliminate your current mortgage debt payment” 
  “Make no payments during your lifetime”
  “Tax free" 
  “Stay in your home as long as you live”
  “Your heirs will inherit all remaining equity”
  “The lender cannot take or own your home”
  “NO income or credit requirements to qualify"
  "Increase your income"