Another byproduct of the National Reverse Mortgage Lenders Association Annual Conference in San Diego was the release of additional details regarding the Certified Reverse Mortgage Professional (CRMP) designation.
At the conference, the Independent Certification Committee (ICC) approved a passing score for the exam, the Code of Ethics that every applicant must adhere to, the manual of policies and procedures, and the fee structure for the CRMP designation.
The fee structure for the CRMP will be as follows:
- Application Fee = $250
- If applicant meets eligibility requirements, Background Check < $100
- If pass exam, $450 Exam Fee before receive CRMP (can be paid upfront or over 3 years)
- If fail exam, $195 for each additional exam administration (can take two additional times)
- Overall cost: $800 – $1190
NRMLA hopes to award the first CRMP designations this spring, in conjunction with the NRMLA regional meetings. The revised candidate handbook and Code of Ethics have been posted on the NRMLA site, while the application will be posted “shortly.”
Write to Reva Minkoff
