Edward James Stock Jr. manages Insula Capital Group in Farmingville, New York, overseeing the structure of short-term bridge loans. Like many in his field, Edward James Stock Jr. is part of the American Association of Private Lenders (AAPL), which advocates for private lenders in the real estate industry.
One key aspect of the AAPL which all members must uphold is the organization's code of ethics, which sets forth rules of conduct for real estate private lenders. The AAPL's mandatory code of ethics dictates that all members follow all laws related to lending, fundraising, and loan servicing. They also require that organizations be honest and forthright in all dealings, and avoid discrimination based on age, sex, sexual orientation, race, or religion.
Members are also prohibited from engaging in various predatory loan practices. So-called bait and switch loans, in which terms are changed from the initial proposition without just cause, are prohibited, as are loans originated with the intent to see the recipient fail.
Members who adhere to all of these requirements may display AAPL trademarks to show their adherence. These agreements can be revoked if the member is found to have acted in bad faith.
