What Is a Certified Reverse Mortgage Professional (CRMP)?

Certified Reverse Mortgage Professional (CRMP) is a designation conferred on a reverse mortgage lending professional by the National Reverse Mortgage Lenders Association (NRMLA) as someone who has demonstrated knowledge and competency in the area of reverse mortgage lending and is dedicated to upholding the highest standards of ethical and professional behavior.1

Although any properly licensed or registered mortgage originator can legally originate a reverse mortgage, CRMP certification requires three years of reverse mortgage experience (or 50 originated and closed loans), passing a comprehensive exam, and successful completion of a background check. 

Understanding the Certified Reverse Mortgage Professional (CRMP) Designation

The Certified Reverse Mortgage Professional (CRMP) designation was created by the National Reverse Mortgage Lenders Association (NRMLA), a mortgage industry trade organization, as recognition of the attainment of the highest professional standards in the reverse mortgage industry by mortgage professionals.1

Oversight of the development and administration of the CRMP designation is the purview of the NRMLA Independent Certification Committee (ICC). The ICC is tasked with ensuring that the credential—and those who have earned it—continually meet the highest standards of ethical and professional practice for the reverse mortgage industry.1

Eligibility Requirements

To be eligible to receive the CRMP designation, an individual must meet all of the following requirements:1

• Have originated reverse mortgages for a minimum of three years or personally originated and closed 50 or more reverse mortgages. (Non-originators must have worked in the reverse mortgage business for a minimum of three years in underwriting, processing, operations, training, title and closing services, appraising, counseling, wholesale sales, or loan servicing.)
• Earn 12 continuing education (CE) credits at an NRMLA conference or by completing online courses that have been reviewed and approved by the ICC.
• Submit a letter of recommendation written and signed by a senior manager. (If the lender is the company’s owner, an industry colleague at a senior management level can submit a letter on their behalf.)
• Complete two hours of ethics training.
• Complete a course on preventing, detecting, and reporting elder abuse.
• Possess a current mortgage loan originator license (if required by their home state).
• Complete a background check through the ICC.
• Submit a signed Consent Statement attesting that they will follow the CRMP code of ethics.

Code of Ethics

The NRMLA ICC requires adherence to a lengthy code of ethics by all certified individuals. To that end, CRMPs are expected to do all of the following:2

• Adhere to federal and state laws at all times.
• Protect the confidentiality of client interactions and documents.
• Disclose to clients any third party with a financial interest in the reverse mortgage transaction.
• Avoid compromising professional judgment by conflicts of interest.
• Accurately represent their professional qualifications, and only advise clients and provide services for which they are qualified.
• Inform clients of all reverse mortgage programs for which they qualify, and assist the client in determining the program most suited to their needs.
• Disclose the risks of transactions, conflicts of interest, and other relevant information necessary to make the transaction fair to the client.
• Not intentionally mislead the client as to the interest rate and closing costs associated with the recommended mortgage transaction, and avoid misrepresentation or concealment of pertinent facts relating to the transaction, closing costs, fees, loan amount, loan program, and interest rates.
• Derive compensation that is fair, reasonable, and clearly disclosed.
• Not engage in conduct involving dishonesty, fraud, deceit, or misrepresentation or knowingly make false or misleading statements to a client, employer, employee, professional colleague, government, or other regulatory body or official or to any other person or entity.
• Act in a manner free of bias concerning race, religion, ethnicity, gender, age, financial status, national origin, or disability.
• Interact with clients in a manner reflecting positively on the reputation of the industry and the integrity of the credential.
• Demonstrate their commitment to maintaining the competency requirements of the credential through continuing experience and education.
• Not bring or threaten to bring a disciplinary proceeding under this code of ethics, or make or threaten to make use of this code of ethics, for the purpose of harassing, maliciously injuring, or embarrassing and/or unfairly burdening a certified individual.
• Acknowledge that the certificate, logo, and marks are the property of the ICC and agree to return the certificate upon request to the ICC.
• Agree to use the logo, marks, and other property of the ICC in the manner authorized by the ICC.
• Agree to uphold and abide by the policies and procedures of the ICC and cooperate in the conduct of all investigations relating to violations of this code of ethics.

Disciplinary Procedures

The ICC is responsible for processing complaints and all disciplinary actions against CRMPs. Complaints concerning violations of the code of ethics can be filed by anyone and will be reviewed by the ICC. If found to be credible, the complaint will be investigated. If found to be accurate, the ICC can impose sanctions.3

Sanctions can include suspension of certification, loss of certification, and inability to be reinstated, depending on the severity of the violation. Disciplinary measures and investigation of complaints follow due process and allow for appeal by the CRMP accused of violating the code of ethics.4