Skip to content
GeoDataVision
Thread Options
#2270141 - 05/06/22 01:40 PM Marketing to Select Group
Tesla Offline
Power Poster
Joined: Nov 2003
Posts: 3,687
I need a second opinion on if I am being too strict here.

We have 100 MLOs, 30 of them want to send email messages wishing past customers Happy Holidays (it would be for every holiday). The email will be very generic but will include their name, picture, NMLS # and contact information (along with Member FDIC and Equal Housing Logo).

My first thought is why aren't all 100 MLOs doing this instead of just a handful?
My second thought is ,although in their eyes it is just a holiday greeting, I see it as an advertisement and we are selecting only a few mortgage customers to get this advertisement. Isn't that a problem?

I am getting a lot of pushback on this because "it is just a holiday greeting". Thoughts? Comments?
_________________________
It's not that I take life for granted. It's only that the good won't make it. Innocence dies, while Villany Thrives.

Return to Top
Fair Lending
#2270163 - 05/06/22 04:12 PM Re: Marketing to Select Group Tesla
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,672
Galveston, TX
It is not a transactional based message and therefore, it is CAN-SPAM and if it not advertising, ask them what the H%LL they think it is. If it is not to get their name in front of the recipients, what is it for?
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2270173 - 05/06/22 07:57 PM Re: Marketing to Select Group Tesla
Rocky P Online
Power Poster
Joined: Jun 2003
Posts: 7,426
Florida
"My second thought is ,although in their eyes it is just a holiday greeting, I see it as an advertisement and we are selecting only a few mortgage customers to get this advertisement. Isn't that a problem?"

Like Randy mentioned, it meets the qualifications of an advertisement. The part that many bankers do not understand is that the BANK gets evaluated on marketing and advertising, not the loan officers. If all the advertising is to (for example) middle age white guys, that could be a problem. Same as if it went to mostly minorities (race, gender, ethnicity), encouraging them to refinance. Another problem. If the recipients are in non-minority upper income neighborhoods,, yes, you guessed it, a problem.

Some things tested for in Marketing during a fair lending exam
M1. Advertising patterns or practices that a reasonable person would believe indicate prohibited basis customers are less desirable.
M2. Advertising only in media serving particular racial or national origin areas of the market.
M4. Use of marketing programs or procedures for residential loan products that exclude one or more regions or geographies within the bank’s assessment or marketing area that have significantly higher percentages of residents of a particular racial or national origin group than does the remainder of the assessment or marketing area.
M6. *Proportion of monitored prohibited basis applicants is significantly lower than that group’s representation in the total population of the market area.
_________________________
Integrity. With it, nothing else matters. Without it, nothing else matters.

Return to Top
#2270174 - 05/06/22 07:59 PM Re: Marketing to Select Group Tesla
Tesla Offline
Power Poster
Joined: Nov 2003
Posts: 3,687
Ok thank you all for your thoughts. I've lost my confidence at this bank because everything I recommend or suggest gets shot down. I really appreciate having BOL for a sounding board.
_________________________
It's not that I take life for granted. It's only that the good won't make it. Innocence dies, while Villany Thrives.

Return to Top
#2270180 - 05/06/22 09:10 PM Re: Marketing to Select Group Tesla
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,503
On the Net
It is certainly brand awareness (advertising) and while it sounds "innocent" there are excellent points made above and examiners may well look at the demographics of a sampling of those accounts selected for mailings. What might they find and what conclusions would be drawn? That is why these small initiatives can be dangerous.

Don't get shot down - you're all about profit preservation for the bank and that's what you're doing.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top