SENIOR SAFEGUARDS
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Choice Home Mortgage is a member of the National Reverse Mortgage Lenders Association (NRMLA) and we adhere to and maintain standards and a code of conduct that are aimed at protecting the interests of the senior community and, in turn, the interests of their families. We realize that Reverse Mortgage products, as good as they are, may not be the cure-all for your financial needs.
Our standard procedures for consumer safeguards for senior citizens include:
Direct contact with one of our trained Reverse Mortgage loan officers, who
analyses the needs of the senior to confirm that one of our products is a
solution. We share with them a detailed cost analysis and comparison.
We provide each borrower with a printed Reverse Mortgage comparison
which clearly illustrates the products offered and the options and benefits
of each. We carefully review each program so that you understand them.
We encourage borrowers to seek advice from a loved one, financial and/or
legal advisor concerning their Reverse Mortgage decision.
We provide the names of professionally trained HUD
approved counselors to provide an objective overview and to discuss the
Reverse Mortgage choices before an application is written. Counseling may be done by phone or in person.
We submit the loan to underwriting where a secondary review of the
program and product choice is made.
After the closing, your Reverse Mortgage loan advisor is available to assist with any questions you may have.
Our goal is to provide the senior with the right solution for their need and to do so in a completely objective, straightforward and informative manner.
