Every Word Matters in the Mortgage Industry
TIn the very sensitive mortgage market, any misrepresentation in advertising can lead to massive personal consequences. To help protect consumers, The Federal Trade Commission (FTC)’s Mortgage Acts and Practices rule (or MAP rule) prohibits misrepresentations in any commercial communication regarding mortgage credit. The rule is also known as “Regulation N” after the rule making authority recently transferred from the FTC to the Consumer Financial Protection Bureau (CFPB). Cracking down on false claims, the rule defines advertising as “any communication between mortgage brokers and clients that is designed to affect a sale or create interest in purchasing goods or services,” – accounting for a the majority of communications occurring in the market.
Can You Prove The Accuracy of Your Content?
The MAP rule establishes strict record-keeping laws for mortgage advertisers. Applying to sales scripts, marketing materials, website content and social media content, the rule has implications for brokers, realtors, advertising agencies, home builders and almost all who engage in any form of advertising. The ability to prove the accuracy and honesty of information, as well as exactly when information was altered is absolutely critical. Agencies and brokers must implement a robust records retention policy for websites and social media pages to protect themselves from litigation.
One Platform for All Your Web & Social Media Archiving
That’s where PageFreezer comes in. Our SaaS-based archiving technology correctly preserves your agency’s web and social media pages while providing for robust search and retrieval functionality. Using crawling technology, it automatically captures every small change made online in real-time, so you can use it as a “set it and forget it” solution. You can browse to a particular date and find content exactly as it once was – or share your content by printing, viewing HTML source, exporting to eDiscovery tools or simply sending over a file.
Your agency, brokers, and the public can trust that any online document you produce is authentic. We produce atomic clock-based time-stamps and SHA-256 digital signature built to Industry leading standards. Responsible handling of your broker’s sensitive data is crucial. Your archives are secure in accordance with rigorous auditing standards (SSAE 16, etc.) and in multiple locations for added precaution.