Social Media for Lenders – an Unsupervised Advertising Opportunity, or a Compliance Risk?
Record keeping rules for mortgage lenders weren’t written with social media in mind. Complying with these rules for loan-related tweets, Facebook messages and LinkedIn communications suggests the proverbial square peg and round hole. Some regulatory agencies mention social media communications but lack rules for it, while others are silent on the subject.
Is social media an unsupervised digital opportunity to advertise and originate mortgages, or a regulatory compliance risk?
In this webinar, mortgage banking attorney Andrea “Lee” Negroni discusses:
- How recordkeeping rules for mortgage lenders apply to social media
- Findings on records retention from interviews with regulatory examiners
- Regulatory expectations for lender retention of social messages
The slides used in this webinar are available here.
Andrea “Lee” Negroni
Mortgage and Real Estate Attorney
Andrea “Lee” Negroni is a mortgage and real estate attorney, author of four books on real estate finance, creator of the Lexis/Nexis Online column, “Real Cases in Real Estate,” and Adjunct Associate Professor of Law at American University, Washington College of Law. She retired from BuckleySandler LLP after 30 years in private practice.
Lee is a Thomson Reuters Key Author whose 6-volume treatise, “Residential Mortgage Lending: State Regulation Manual” (in print and on Westlaw) is used by mortgage companies and attorneys nationwide. She graduated from Columbia Law School.