Senior Safeguards

At Provident Lending, we have 3 categories of safegaurds to make sure that all of our clients understand everything about Reverse Mortgages and protect the interests of the senior community and their families.


Category 1 - The NMRLA

Provident Lending is a member of the National Reverse Mortgage Lenders Association (NRMLA), who has a comprehensive Code of Ethics that we follow closely. Click here to read the NRMLA Code of Ethics.

 

Category 2 - Provident Lending Procedures

Our Reverse Mortgage Counselors adhere to and maintain standards and a code of conduct that are aimed at protecting the interests of the senior community and their families.

We realize that although Reverse Mortgage products can be an excellent financial solution, they may not be the cure all for your financial needs.

Our customary methods in terms of consumer safeguards for senior citizens include:

  • A personal, one-on-one consultation with an expert Reverse Mortgage Counselor who will analyze the needs of the senior candidate to ensure that one of our many reverse mortgage options is a practical solution. We then share with them a detailed cost analysis and comparison breakdown.
  • We provide each candidate with a printed version of the Reverse Mortgage Comparison Breakdown. We review this breakdown with each senior candidate to ensure that the senior clearly understands the options and benefits of different Reverse Mortgage scenarios.
  • We strongly encourage all senior candidates to reach out and seek advice from loved ones: family and friends, as well as financial and/or legal advisors regarding their decision to move forward with a Reverse Mortgage. 

 

Category 3 - HUD Counseling

Before a Reverse Mortgage application is written, we will provide you with the name of a professionally trained HUD approved counselor, and arrange for them to furnish you with an expert objective overview and discuss with you all the Reverse Mortgage options.
 
To help prepare you for this counseling session, read "Preparing for Your HUD Reverse Mortgage Counseling Session" available on this site. Click here to read the pamphlet.

 

Follow Up

Upon your acceptance and approval, we will submit the Reverse Mortgage application to our processing team, who once again reviews the selected program to further ensure a proper and educated decision has been made.
 
Our processing team then submits the application to our underwriting department. Underwriting will perform a secondary review of the program and product choice.
 
After the loan is written, you will still have a 3-day Right of Rescission, which means that you can change your mind for 3 days after you've signed the final papers on the loan. Click here to read an article about your 3-day Right of Rescission.
 

We Stay in Touch!

Provident Lending Reverse has been around for a long time, and we will be here for you in your future.  We are always available, and never forget our clients.
 

Ultimately, our goal is to help our senior clients find the perfect solution for their needs. To do so, we firmly believe in educating our clients to the utmost, and allowing them access to straightforward, objective information and answers. For answers to any questions you may have, call us at: 877-299-5500.

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