Overview
What is National Reverse Mortgage Lenders Association?
The National Reverse Mortgage Lenders Association is a nonprofit organization headquartered in Washington, D.C. Their primary objective is to promote awareness and usage of reverse mortgages. To achieve this, they conduct meetings, facilitate group discussions, and invite expert speakers. The association's mission extends beyond education, as they also aim to train lenders to be sensitive to their clients' needs, enforce a code of conduct and best practices, and promote reverse mortgages in the media. The organization is committed to educating consumers about the advantages and disadvantages of reverse mortgages, ensuring that lenders provide responsible services, and promoting this financial option in the public sphere.
Official website here: www.reversemortgage.org
Is National Reverse Mortgage Lenders Association legitimate?
National Reverse Mortgage Lenders Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. National Reverse Mortgage Lenders Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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For more financial information, click here
Official website here: www.reversemortgage.org
What is the mission statement of National Reverse Mortgage Lenders Association?
The National Reverse Mortgage Lenders Association's mission is centered around promoting the awareness and usage of reverse mortgages. They achieve this by educating consumers about the advantages and disadvantages of these mortgages. The association also focuses on training lenders to cater to their clients' needs with sensitivity. Moreover, they enforce their code of conduct and best practices within the industry. Additionally, they strive to promote reverse mortgages in various news mediums. Their activities often involve discussions on case studies, group discussions, and presentations by expert speakers, all related to reverse mortgage lending.
Official website here: www.reversemortgage.org
Who is the CEO of National Reverse Mortgage Lenders Association?
Peter Bell is the Co-Chairperson of National Reverse Mortgage Lenders Association. The CEO's salary of National Reverse Mortgage Lenders Association is $0 and their total compensation is $0.
Official website here: www.reversemortgage.org
What is the revenue of National Reverse Mortgage Lenders Association?
National Reverse Mortgage Lenders Association's revenue in 2022 was $2,975,782.
Official website here: www.reversemortgage.org
Who are the executives of National Reverse Mortgage Lenders Association and what are their salaries?
There 40 volunteers at National Reverse Mortgage Lenders Association.
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Official website here: www.reversemortgage.org
Where can I find the form 990 for National Reverse Mortgage Lenders Association?
National Reverse Mortgage Lenders Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.reversemortgage.org
Learn more at the official website: www.reversemortgage.org
Mission Statement of National Reverse Mortgage Lenders Association
The National Reverse Mortgage Lenders Association, a notable organization, is dedicated to advocating for and promoting the awareness and utilization of reverse mortgages. Their mission encompasses several key aspects. Firstly, they strive to educate consumers about the advantages and disadvantages of reverse mortgages, ensuring that individuals make informed decisions regarding this financial tool. Secondly, the association trains lenders to be sensitive to their clients' needs, fostering a supportive and understanding environment in the reverse mortgage lending sector. Thirdly, they enforce their Code of Conduct and best practices, aiming to uphold ethical standards within the industry. Lastly, the National Reverse Mortgage Lenders Association actively promotes reverse mortgages in the news media, seeking to increase their visibility and acceptance among the general public. Their activities include discussions of case studies, group discussions, and presentations by expert speakers, all centered around reverse mortgage lending.
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Impact
October, 2024
The National Reverse Mortgage Lenders Association (NRMLA) plays a significant role in shaping the landscape of reverse mortgage lending. By promoting awareness and understanding of reverse mortgages, it educates consumers on both the advantages and potential drawbacks of these financial products.
Through organized meetings, case studies, and discussions led by experts, NRMLA facilitates a platform where lenders can deepen their knowledge and sensitivity to the needs of clients. This professional training helps ensure that the lending practices within the industry adhere to a high standard of conduct and best practices, fostering trust and accountability.
Additionally, by engaging with the media, NRMLA elevates the conversation around reverse mortgages, ensuring that accurate and balanced information is readily available to the public. This proactive approach not only helps consumers make informed decisions but also enhances the integrity of the reverse mortgage industry as a whole.
This information is meant to be a general summary of National Reverse Mortgage Lenders Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,156
- Program Service Revenue: $924,182
- Gross Receipts: $2,975,782
Assets and Liabilities:
- Total Assets: $1,805,107
- Total Liabilities: $457,389
- Net Assets: $1,347,718
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONFERENCES AND MEETIN
Revenue
$609,334
MEMBER SERVICES
Revenue
$203,785
CERTIFIED REVERSE MORT
Revenue
$63,713
WEBSITE LISTING
Revenue
$47,350
Organization Details
Founding Year
1998
Phone
(202) 939-1760Principal Officer
Peter Bell
Main Address
1400 16TH STREET NW 420, WASHINGTON, DC, 200362244
Website
www.reversemortgage.orgNTEE Category
Code: S41 - Community improvement
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