Description
Lenders are under a lot of competitive pressure – especially mortgage lenders. Not only is the real estate market a tougher sell these days, but the professional crowd competing for loans is vast, wide, and often poorly regulated.
Lenders who work for supervised financial institutions are feeling burdened by numerous rules and regulations which are stifling their competitive edge and creative prowess… or so I’ve been told by lenders trying to claw to the top of influencer-driven social media advertising. In addition, machine-learning tools are within easy reach to super-customize target audiences and gain the biggest buck from advertising dollars.
In the middle of this, compliance professionals are left trying to help their institutions be successful while flashing the warning lights of Reg Z, RESPA Section 8, UDAP and fair lending. Consider:
Reg Z advertising rules:
- What IS an advertisement? If we don’t consider a social media post or digital message an “advertisement”, can we avoid all the Reg Z disclosure racket?
- What MUST be included in closed-end ads? Open-end? Lenders say disclosures are killing their vibe.
- Can digital creativity co-exist with disclosures?
- How can Compliance managers best navigate this conflict?
RESPA Section 8 issues:
- What ARE kickbacks and unearned fees? Lenders say referrals and partnerships are the lifeblood of real estate transactions and are needed.
- What is a “Thing of Value”? Why does it matter?
- Who are the settlement service providers we need to be thinking about?
- There are different subsections of RESPA Section 8. Learn the details of each and how they apply in the real world.
UDAP and Fair Lending:
- Are lenders straying from their lending expertise, giving financial advice about the housing market?
- Could overly-simplified, attention grabbing posts or ads raise UDAP concerns?
- What risks are presented by a growing reliance on AI generated content?
- How might targeted marketing efforts present disparate treatment worries?
- Lenders are seeking engagement with users. Is all engagement good?
- How can Compliance managers protect against UDAP and fair lending risks?
WHO: Compliance staff, risk managers, loan policy makers, lenders, marketers and audit.
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