10 Jul BEMG Capturing Attention of Mortgage Industry – Industry Leading Publications Taking Notice
SUNRISE, FL / ACCESSWIRE / July 10, 2018 / Beta Music Group, Inc. (OTC PINK: BEMG), through its operating subsidiary Get Credit Healthy, an award-winning platform that transforms currently untapped markets into a well-qualified, well-informed applicant pool that desires and more importantly, qualifies for the financial products offered by financial institutions, announced today that Elizabeth Karwowski, CEO has had two articles recently published in industry leading publications.
The first article was published in Tomorrow’s Mortgage Executive titled, Lenders: Are You Unwittingly Violating The Consumer Credit Protection Act?. The Consumer Credit Protection Act. No doubt you’ve heard of it but, unless you’re a consumer protection lawyer or a masochist, you’ve probably never sat down and read it. Sure, everyone knows that law prevents ”evil corporations” from taking advantage of consumers, but did you know that it also might penalize you or your company for trying to help your potential clients?
That’s right; you can be sued by the CFPB for providing assistance to your potential clients. This may seem counter-intuitive, but the way the law is written, if you or anyone in your institution attempts to help clients clear up some blemishes or inaccuracies on their credit reports with the goal of qualifying them for one of your financial products, you can be sued under a sub-part of the Consumer Credit Protection Act commonly referred to as The Credit Repair Organizations Act.
To read the full article go to: http://www.progressinlending.com/TME0418/TME0418ComplianceFeature.pdf.
The second article was published in Today’s Lending Insights titled, Be A Hero, Recapture Your Potential Borrower Leads. It goes without saying that lenders in today’s housing market face a much more burdensome task than their predecessors of just ten years ago. The financial crisis of 2008 forever changed the face of the American economy. The federal government enacted stringent regulations, which were designed to protect and prevent consumers without sufficient means from assuming ”overly-burdensome” financial obligations.
The recession also prompted many lenders and banks to re-evaluate their own general lending practices and qualification parameters, making it much more difficult for those consumers with less than stellar credit to obtain a mortgage. Implementing those barriers was necessary in some cases. In many others, consumers who would otherwise qualify for a mortgage are denied every day, irrespective of their actual ability to pay back those loans, because credit scores are now weighed so heavily.
To read the full article go to: http://progressinlending.com/2018/04/12/be-a-hero-recapture-your-potential-borrower-leads/.
“It is humbling to see leading industry publications take notice of the solutions we have developed that create new loan opportunities for lenders where we are able to partner consumers with non-profits to get the help and education that they need for their financial well being,” said Elizabeth Karwowski, newly appointed CEO of BEMG and of Get Credit Healthy.