Here at Underwood Mortgage Group we have discovered a great product that can be a huge benefit to you and your clients. The service is called Rate Plug, and Underwood Mortgage Group was offered the opportunity to enlist as a preferred lender. This program gives Agents the opportunity to display live mortgage payment and product information, along with all of the property data, on MLS listings sent to buyers. It also allows us to quickly and easily create custom, detailed open-house flyers for your listings.How Does It work?
The program is embedded into the MLS system you use to search and send property reports to your homebuyers. When you send your MLS property reports to your customers, they will now have access to accurate, interactive mortgage product and payment information specific to each property. The payment information is based on up-to-date interest rates continuously monitored by us – and includes property taxes, assessments, and homeowner’s insurance estimations. Additionally, you and your client can interact with the information and play “what if” scenarios to best determine their financing goals.Easy to Use:
This is an automated system. You don’t need to learn how to use any new software or log onto any system to participate. Once you complete the brief form attached, you are enrolled. We at Underwood Mortgage Group handle the rest. We will make sure the mortgage products and rates are kept current, and also provide you with Property Flyers for your listings or open houses. And the best part is – this costs you nothing. We pay all of the licensing, enrolling and production costs.
Property Flyer System When you list a new property in your MLS system, we have the ability to create co-branded professional flyers – with no effort on your part. We import the photos and all of the property information from MLS. The flyers are professional, include current interest rates, and are co-branded with all of your contact information. And to comply with all the new regulations, we archive every flyer and property detail created in our system for 6 years to meet the new FTC (MAP) guidelines.
RatePlug Protects You from FTC (MAP) Violations The new FTC (MAP-Mortgage Acts and Practices) regulations impact all real estate professionals who offer information about mortgages to clients or customers. The two key areas of concern that we protect you from are:
Disclaimer language: We have adopted the National Association of Realtor’s recommended disclaimer and has incorporated the language into all flyers generated. This disclaimer is simple and clear; specifying that the Broker/Agent is not a mortgage lender – absolving you from any liability.
Record Keeping: The new regulations specify that real estate professionals are required to save all mortgage related communications for up to 6 years from the date that the communication was made available to the consumer. We have you covered. We archive every piece generated through our system for retrieval at a later date if necessary.
Teaming with a proven, reliable lender you trust is critical. It has been shown that the more knowledgeable buyers are of their mortgage options, the smoother the transaction goes. And a Lender like Underwood Mortgage Group, with many relationships and avenues, is critical in our current lending environment.