NMP - July 2018 - 72

special focus on SOCIAL MEDIA a special focus on SOCIAL MEDIA a special focus on SO

Can Compliance and Social
Media Co-Exist?
By Brandon Simmons

veryone loves the
cliché "Rules are
made to be
broken," except for
the Compliance
Department at any
office. The problem is, as a
Social Media Manager, that
cliché sometimes fuels the
creativity of how you can break
through the clutter of everything
that has a potential client's
attention. If there are any teams
that may go to war with each
other, it would be the
Compliance and Social Media
teams. Working with the
Compliance Department at your
job, is both a frustrating and
rewarding task, if you are a
Social Media Manager. Their job
is to watch out for the
regulations within the mortgage
industry and make sure the
company abides by them. The
Social Media Manager's main
focus is to be the online
extension of the Marketing
Department, promoting the
company on various platforms
through branded content. These
are, to say the least, two very
different positions by
functionality. However, there are
some key steps you can take to
ensure both can come together
to share in success.

E

JULY 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

72

Communication
The Compliance Department is
the gateway to the wonderful
world of rules, regulations and
endless verbiage. These are all
the things that we do not envy of
them by any means. Therefore,
they are the watchdogs for those
things, as well as the changes
associated with them.
Compliance has all the
knowledge of what is allowed in
certain states, and which
programs need specific language
surrounding them. It's important
for them to stay on top of that
and you shouldn't be afraid to as
well with communication.
Feel free to ask questions about
anything you are unsure about
concerning compliance. There are
a wide range of rules for different
states and loan programs; too
much to figure out on your own. If

"Together, Compliance and Social Media Managers
work to bring some sort of transparency for the
consumer, where they feel comfortable enough with the
message received as what they will get. It's a task that
cannot be easily done separate from each other."

you want to solve the mystery of
what you're looking for, all it takes
is one question.
Despite the jokes in your head,
the Compliance Department is not
as stuffy as you would think. They
serve a function to the company
just as much as any other
department that is there.
Understanding each
other's purpose
Every department serves its own
purpose, but the Compliance
Department might be the
Draymond Green of your
corporate squad. They are the
enforcers because one small
misleading statement can lead to
a big penalty. The Compliance
Department's responsibility is to
make sure everything goes by the
books as far as licensing and
language. They make sure the
company and its employees are
abiding by all regulations. In the

mortgage industry, this can be
frustrating as some rules might
apply to niche circumstances.
There are times when these
circumstances will require some
sort of language to be placed
within the advertisement. This
can be a headache, especially
when dealing with social media,
and something that can easily get
lost in the cracks.
The Social Media Team's only
purpose is to boost the
company's brand through the
online atmosphere. It is now
commonplace for major
corporations to get their names
out there through various social
platforms in order to reach their
customers in a more creative
fashion. This is vital to a
mortgage company, as there will
always be a need to buy a home
or obtain a reverse mortgage.
This is essentially what social
media is designed for; people of

all backgrounds to connect and
share information. However, the
latter can turn into a hotbed for
all types of falsehoods. There is
no real filter to determine which
information is accurate or just
being out there for the sake of
getting "likes".
To prevent any type of
falsehoods, the Compliance
and the Social Media
Departments can come
together on this issue. It's easy
for a Loan Officer to slip in a
"Free" or forget to put in a
disclaimer, to reel in a potential
closing. This is where the
Compliance Department steps
in and advises on the proper
verbiage to avoid any confusion
on the part of the consumer. In
addition to breaking the clutter,
social media is also all about
keeping the "clutter" low. Some
platforms utilize character limits
for their posts and their profile
information which can cause a
problem for any language or
credentials that must be
presented for a loan officer's
advertisement. There will need
to be creative ways set forth to
get the proper message out
while maintaining some
marketing savvy.
On the flipside of this, it will
not hurt for Compliance to
understand the role of how
social media functions through
different networks. For
example, sharing content on
social media is basically
second nature on any of the
social networks today. Every
re-tweet and repost is just as
vital as a user creating their
own content. However,
Compliance might look down
on blind reposting, as in
sharing another user's content,
since it might not be valid or
may belong to a competitor.
Besides, the way content is reshared varies on different
platforms as well. If you share
content on Pinterest, or "RePin," it will appear as
something that comes from
you. The same thing will
happen with a Twitter re-tweet
or an Instagram Repost. Even
though it can be assumed that
the idea being shared is not an
original idea of that user, the
information still must have
some validity found within it.
This is where the Compliance
Department kicks in to scrub all
the false information. They
swoop in like the fact-checking
heroes they are and ensure that


http://www.NationalMortgageProfessional.com

Table of Contents for the Digital Edition of NMP - July 2018

Contents
NMP - July 2018 - Cover1
NMP - July 2018 - Cover2
NMP - July 2018 - 1
NMP - July 2018 - Contents
NMP - July 2018 - 3
NMP - July 2018 - 4
NMP - July 2018 - 5
NMP - July 2018 - 6
NMP - July 2018 - 7
NMP - July 2018 - 8
NMP - July 2018 - 9
NMP - July 2018 - 10
NMP - July 2018 - 11
NMP - July 2018 - 12
NMP - July 2018 - 13
NMP - July 2018 - 14
NMP - July 2018 - 15
NMP - July 2018 - 16
NMP - July 2018 - 17
NMP - July 2018 - 18
NMP - July 2018 - 19
NMP - July 2018 - 20
NMP - July 2018 - 21
NMP - July 2018 - 22
NMP - July 2018 - 23
NMP - July 2018 - 24
NMP - July 2018 - 25
NMP - July 2018 - 26
NMP - July 2018 - 27
NMP - July 2018 - 28
NMP - July 2018 - 29
NMP - July 2018 - 30
NMP - July 2018 - 31
NMP - July 2018 - 32
NMP - July 2018 - 33
NMP - July 2018 - 34
NMP - July 2018 - 35
NMP - July 2018 - 36
NMP - July 2018 - 37
NMP - July 2018 - 38
NMP - July 2018 - 39
NMP - July 2018 - 40
NMP - July 2018 - 41
NMP - July 2018 - 42
NMP - July 2018 - 43
NMP - July 2018 - 44
NMP - July 2018 - 45
NMP - July 2018 - 46
NMP - July 2018 - 47
NMP - July 2018 - 48
NMP - July 2018 - 49
NMP - July 2018 - 50
NMP - July 2018 - 51
NMP - July 2018 - 52
NMP - July 2018 - 53
NMP - July 2018 - 54
NMP - July 2018 - 55
NMP - July 2018 - 56
NMP - July 2018 - 57
NMP - July 2018 - 58
NMP - July 2018 - 59
NMP - July 2018 - 60
NMP - July 2018 - 61
NMP - July 2018 - 62
NMP - July 2018 - 63
NMP - July 2018 - 64
NMP - July 2018 - 65
NMP - July 2018 - 66
NMP - July 2018 - 67
NMP - July 2018 - 68
NMP - July 2018 - 69
NMP - July 2018 - 70
NMP - July 2018 - 71
NMP - July 2018 - 72
NMP - July 2018 - 73
NMP - July 2018 - 74
NMP - July 2018 - 75
NMP - July 2018 - 76
NMP - July 2018 - 77
NMP - July 2018 - 78
NMP - July 2018 - 79
NMP - July 2018 - 80
NMP - July 2018 - 81
NMP - July 2018 - 82
NMP - July 2018 - 83
NMP - July 2018 - 84
NMP - July 2018 - 85
NMP - July 2018 - 86
NMP - July 2018 - 87
NMP - July 2018 - 88
NMP - July 2018 - Cover3
NMP - July 2018 - Cover4
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201910
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201909
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201908
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201907
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201906
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201905
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201904
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201903
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201902
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201901
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201812
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201811
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201810
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201809
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201808
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201807
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201806
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201805
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201804
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201803
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201802
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201801
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201712
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201711
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201710
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201709
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201708
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201707
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201706
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201705
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201704
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201703
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201702
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201701
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201612
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201611
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201610
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201609
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201608
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201607
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201604
http://www.nxtbookMEDIA.com