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Are you a Mortgage Broker who uses websites and social media to communicate with clients? Are you wondering how to comply with MAP (Mortgage Acts and Practices) and how it pertains to these digital channels?
Well, you’re in the right place! This article will give you an overview of MAP and what kind of processes and best practices you should follow to make compliance a snap as opposed to a burden. In July 2011, the FTC issued new rules regarding mortgage advertising. Advertising, in this case, involves any communication between you and clients “that is designed to effect a sale or create interest in purchasing goods or services.”
Retention is the Law
So, in effect, any social media or website content that is not purely educational falls into this category. Therefore, you must maintain records of these communications. For example, if you post a price list online and take it down later you still have to keep a record of it for two years.
Protection for you and your agency
Even if no misrepresentation occurs, you still need to keep the records. If you work for an agency and you post commercial communications, both you and the agency should maintain records.
Requires systematic, ongoing records
Any “material change” of this content also needs archiving. In the case of a document that constantly changes it’s not enough to just have one copy – Every change needs systematic recording.
Full MAP Compliance
All in all, it can be an onerous and tedious process. Luckily new technology makes this requirement simple and straight-forward! Here’s an overview from the FTC regarding new rules – Deceptive mortgage ads. For full details: Mortage Acts and Practices – Advertising (link to the Final Rule).
One Archiving Platform for All Your Web & Social Media Archiving
PageFreezer archives websites, blogs and social media all on one easy to use web-based platform.
We support Facebook, Facebook at Work, Twitter, LinkedIn, YouTube, Vimeo, Google+, Instagram, Pinterest, Tumblr, Flickr, blogs, websites, web apps and more. We’re leaders in the online archiving industry and have over 500 clients to prove it.
Automatic Archiving Freezing the web doesn’t have to be a chore.
We set it up for you and your web and social media archiving happen automatically. You can also adjust it from your online dashboard. PageFreezer Archiving is a set it and forget it solution – Until you need it. Then it’s easy to browse to a particular date and go through your Web/Social content EXACTLY as it was. You can then retrieve the content how you’d like it – Print on demand, view the HTML source, export it to leading eDiscovery tools or simple send a file. You get more than just a daily snapshot of your website or social media. You can easily customize set-up options such as real-time archiving to capture every change made to your site during the day. With PageFreezer, you get perfect archives of ALL your online content — without a lot of hassle.
Archiving that Works Bothersome Task Smooth Process
With a proven, trusted archiving system in place you’ll never be caught flat-footed, scrambling to cover an audit. All the time to plan, design, build, test, implement and manage a proper archiving system is taken care of, in minutes.
It’s critical your agency, and your brokers implement a robust records retention policy for your websites and social media pages. You must preserve your online presence in a way that’s regulation-compliant, user-friendly, and above all, affordable.
That’s where PageFreezer can help you out. Our SaaS-based archiving technology correctly preserves your agency’s web and social media pages while providing for robust search and retrieval functionality.
Archiving That You Can Trust Secure, reliable and authentic
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.
Replay or reproduce all you Online content in the original format, anytime in the future. This retention is particularly important within a legal context. Everything happens online, independent of specific technologies or databases. If you need to keep your records in-house you have that option.
Your agency, brokers, and the public can trust that any Online document you produce is authentic. We produce atomic clock based time-stamps as well as 256-bit digital signatures built to Industry leading standards.
Be the hero
If anyone asks for some data from way back when on your website, you’ll go back to them with an exact copy. They don’t need to know how easy it was for you to retrieve using PageFreezer.
On the other hand
If you can’t retrieve that online content how will that look? Don’t leave it up to chance – Have an archive that is properly set up, maintained and easy to retrieve the exact document you need.