updated 3/1/2011 4:46:13 PM ET 2011-03-01T21:46:13

LOUISVILLE, Ky., March 1, 2011 (GLOBE NEWSWIRE) -- Program HR 3648 is SAFE Act and MARS compliant. Jeremy Bowman, co-founder of RealPrompt Real Estate Services LLC, the parent company of Program HR 3648, the number one short sale servicing platform and community of real estate professionals in America, has announced that his company has revised and re-tooled its short sales program to be compliant with both the federally mandated SAFE Act and the final ruling by the FTC on the Mortgage Assistance Relief Services (MARS).

In an effort to embody one of Program HR 3648's core values, transparency -- an effort to be accountable, trustworthy; one of the primary building blocks to relationships of trust -- the company has implemented all relevant elements of both of these regulatory statutes in its documents, its training modules, and the procedures used to assist with short sale files for its specialists.

Bowman stated that, "We and our attorneys are committed to staying current and in compliance with all the changes in the laws and guidelines so we can provide the safest, most trusted and effective short sale platform, community and system for agents and brokers throughout the country." As part of the updated program, Program HR 3648 will also help its members stay in compliance with the new final ruling by the FTC on the Mortgage Assistance Relief Services (MARS). Program HR 3648 provides each member with the proper documents that fully disclose to all parties all relevant disclosures required by the new FTC ruling.

Woods Davis, Vice President of RealPrompt Real Estate Services and Program HR 3648, adds, "Staying in compliance with the ever changing laws and regulations is not an easy task. We've spent countless hours, with help from our attorneys, carefully crafting every aspect of our model to ensure compliance to the best of our ability. We're proud of what we've done."

Program HR 3648 has provided its short sales task center assistants and all managers and supervisors with detailed, SAFE Act and MARS compliant information to respond to agent and broker questions and concerns, as well as ensuring that all tasks done are within the parameters established by these. The company has also revised all the template documents used by its real estate agents and brokers, available on Program HR 3648's newly launched training platform. Erika Wooldridge, Production Manager, works with each short sale assistant in the new short sale task center "to stay ahead of the curve, following all guidelines to help keep agents informed and up-to-date."

Bowman concludes, "Because it is required that every Program HR 3648 member offer all their services, work, and help to every distressed homeowner absolutely free, proper and clear disclosure becomes the central focus for us. Our disclosures are front and center on each document. That coupled with our free offering have made homeowners all throughout the country our biggest fans. We're unquestionably committed to maintaining their complete confidence and trust."

The Program HR 3648 logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6979.

         Cindy Thompson, Administrative Director
         Office, 1.800.915.1988

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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