The opening day of the current year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego drew to a close with a significant announcement signaling the end of an era.
During the event, the association recognized two of its most notable past and present members with distinguished service awards. Peter Bell, NRMLA’s current CEO and former president, and Scott Norman, the former co-chair and current CEO of the Texas Mortgage Bankers Association (TMBA), were the recipients of these awards.
Bell revealed his retirement from the association, although he will continue to focus on affordable housing-related issues. NRMLA will also be parting ways with Bell’s association management company, Dworbell Inc., and will operate independently moving forward.
As part of this transition, four NRMLA employees will join the law firm Weiner Brodsky Kider, which will now offer administrative support services in addition to serving as the association’s outside general counsel. NRMLA will continue to function under the guidance of its board of directors.
Bell, with a career dating back to 1976 in housing policy, has been closely involved with reverse mortgages since the inception of the Home Equity Conversion Mortgage (HECM) program. He played a pivotal role in establishing NRMLA in the 1990s and has held the dual position of president and CEO for most of the association’s history.
Recognized for his contributions, Bell was hailed for his involvement in the creation and service to NRMLA. Norman, who had served in various roles within NRMLA and was previously co-chair of its board of directors, also received a distinguished service award.
Reflecting on his retirement, Bell expressed his intent to shift his focus towards the affordable housing sector, drawing on his extensive experience in the field. Norman, acknowledging Bell’s mentorship, highlighted the impact of Bell’s dedication to safeguarding seniors’ interests in utilizing their home equity for retirement.
As the event unfolded, Bell made his retirement announcement alongside Federal Housing Administration (FHA) Commissioner Julia Gordon, with whom he had just conducted an interview.
Norman, who recently assumed the role of CEO at TMBA, expressed gratitude for the recognition he received, emphasizing the significance of his longstanding involvement with NRMLA and the relationships forged within the industry.