Well this was a fun read.  It's difficult to say whether or not this will give compliance-minded mortgage companies a competitive disadvantage with regards to their online consumer education or online branding efforts.  

It's not necessarily the rules and procedures that concern me, but it's how hard the regulators will come down on the first few companies to make an example out of.  

One interesting thing about the FFEIC Social Media Guidance is that they require all mortgage companies to have a written plan in place that is monitored and measured, regardless if that company chooses to have any exposure online or not.  

All of those loan originators who wanted to jump into mortgage / social media marketing full-time may now find an opportunity since every mortgage company is recommended (required) to have a designated tech savvy social media person in charge of all online activities.  

https://www.ffiec.gov/press/PDF/2013_Dec%20Final%20SMG%20attached%20to%2011Dec13%20press%20release.pdf
Shared publiclyView activity