Compliance is Crucial for Reverse Mortgage Companies
 |
|
Compliance is crucial for reverse mortgage companies.
|
06/07/11
With the United States Postal Service actively looking for new ways to generate revenues, lifting postage rates has been a primary strategy. Now, with regulations growing stricter and postage prices on the rise, reverse mortgage companies need to be even more careful when leveraging print marketing materials.
As Reverse Mortgage Daily recently noted, reverse mortgage companies can lose out on substantial investments if their materials are compliant with industry regulations, forming a double-whammy of sorts in combination with higher postage prices. Whether they are using simple postcard printing or sending comprehensive brochures, the source suggests they have a council review the promotional piece before going into full production.
"It's worth the time and money you'll pay to have it reviewed," Jim Milano, chief counsel for the National Reverse Mortgage Lenders Association, told the source. "At least you can say, 'We had counsel review this.'"
While Milano spoke exclusively about the reverse mortgage industry, the same could be said for any business in a sector with strict regulation rules in regards to advertising. Most financial companies fall under this umbrella, as do some medical firms.
|