As NAR implements changes in commission practices, mortgage professionals anticipate impacts on their roles. Mike Rankin from Clearpath Mortgage Solutions and Jennifer Gormer of Integrity Home Lending weighed in.https://t.co/s7Ln0YgVrr#mortgageindustry #mortgagebroker
— Mortgage Professional America Magazine (@MPAMagazineUS) May 3, 2024
For scores of Americans, the shift to remote work has been a positive and seamless switch. Still, Nunziata said he could see “very strict guardrails” coming into play in the near future about what remote workers can and cannot do, particularly when it comes to financial services.
“What you’re going to need is to be able to show a regulator very clearly how you’re documenting – not just a written attestation, but you’re going to need to be able to provide [workers] with some type of software, prove to a regulator that my employees are in compliance with whatever different rules and regulations there are depending on the agency or the state,” he said.
Social media another compliance minefield for mortgage employers
Another growing regulatory focus is set to be social media, with that medium having dramatically usurped traditional media on the advertising front in recent years.
Mortgage professionals and companies today can reach a very specific audience through social media advertising, with loan officers having the ability to market their services to as targeted a clientele as they please through social media channels.
That growing shift towards social media, though, is also set to have regulatory consequences, according to Nunziata. “With that vertical, there are a lot of challenges to make sure it’s done compliantly,” he said.
