"I found Phenom to be a robust community development and communications platform for Mortgage Brokers For Change," said Ron Borg, acting chairman for MBFC. "As our organization grows we are going to need a secure collaborative communications channel for internal board communications and also as a community training, development and communications tool for our members, who will be mortgage brokers and loan officers dedicated to providing full and comprehensive disclosure to their clients."
"Consumers have been forced to seek alternative forms of financing to lower their monthly payments as property values rise," continued Mr. Borg. "Unfortunately, they often wind up with loan products containing variables that could potentially be financially disastrous for them -- it is often the fault of the broker or loan officer for not fully explaining all the ramifications of a particular loan. This is why we are pushing for full and clear disclosure. We are currently seeking the most ethical, honest and knowledgeable brokers and loan officers of this country to join us and, together, we will look to establish best practices in disclosure, documentation and consumer education. It clearly looks as though Phenom provides the perfect communications platform with which to assist us in doing so."
