BDAP
Place I can view my BDAP funds
MyKey
To view your BDAP balance or transactions, you can Login in to MyKey.
Go to MyLinks and click on MyLinks MK2 or use url https://mykey.guildmortgage.com/guildprot/gmc/Prod/Holdback
NOTE: Two views - Individual & Branch
How to request compliance approval
Email compliancemarketingapprovals@guildmortgage.net or contact your Field Marketing representative
https://myguild.sharepoint.com
Go to Compliance and use the Compliance Marketing Tab to "Jump To" area of need
Year Guild was founded
Martin Gleich founded Guild Mortgage Company on August 10, 1960
**** DAILY DOUBLE ****
Timeframe in which receipts must be submitted for reimbursement in Concur Expense
90 days from payment date
Promo items must be Guild Branded
TRUE
A picture or proof of branding must accompany your original paid receipt.
Changes to BDAP can only be made at Open Enrollment which occurs this often.
Quarterly
Name a general type of Event that would require Compliance review/approval
Open Houses, Business Partner Happy Hour or Appreciation event or any Co-Sponsored event all require Compliance approval.
Other events such as Lunch & Learns may not require Compliance approval but do require an Event Certification form.
Please reach out to compliancemarketingapprovals@guildmortgage.net if you are not sure.
What method of payment can be used to pay appraisals
Appraisal expenses should be processed through Concur Invoice and paid by our AP Invoice Team.
Appraisals should NEVER be paid with the Corporate Card OR Out of Pocket.
Last day to spend BDAP funds
12/31
A Loan Officer can claim BDAP reimbursement for expenses paid for by one of their team members
FALSE
A Loan Officer can claim BDAP eligible team expenses but only if paid by the LO/BDAP account holder.
Please note: if receipt is in team members name, proof of payment by BDAP account holder will be required.
**** DAILY DOUBLE ****
Thank you gifts to borrowers for closing their loan with Guild are limited to this amount
$500 per closing
Gifts for any other reason should be vetted through Compliance. PrePaid gifts are limited to $50 per gift and $1,000 in total. A PrePaid Borrower Gifts Acknowledgement Form is required at time of submission and after all gifts have been distributed.
Loan Number and Borrower name must be entered in Concur.
Name a marketing vendor that is approved for use but still requires individual compliance approval attached with a receipt when requesting reimbursement.
Vendors such as Zillow, CINC, BoomTown, Oggvo, Homes for Heroes, Realtor.com, etc are approved vendors but require individual review of your ad or profile due to co-marketing aspect.
A new process recently implemented in Concur requires you to choose which Policy type to claim BDAP reimbursement?
LO/BDAP US Expense Policy
You will no longer be able to submit reports that contain both Branch and BDAP expense types.
When creating a new report, you will need to choose one of the following Policy types:
Normal US Expense Policy for submitting BRANCH PAID expenses.
LO/BDAP US Expense Policy for submitting BDAP expenses.
Number of months Compliance approvals are typically good for Advertising expenses
6-12 months
Requests for re-approval should be submitted prior to the expiration date to ensure continuous coverage and avoid delayed reimbursements.
Approvals must be attached with receipt each time reimbursement is requested.
Multiple receipts can be combined into one expense transaction line when requesting reimbursement.
FALSE
Each paid receipt must be submitted as a separate transaction in the expense report.
One receipt = one transaction line
Five receipts = five transaction lines
BDAP balances expire on 12/31 of each calendar year. Where do these funds go?
Any remaining balance after 3/31 of the following year will be forfeited and not paid directly to the originator. Balances will be charged or credited to the branch P&L in April.
No balance in the BDAP account can ever be paid outright to the account holder except as reimbursement for business development costs incurred.
Name a general type of event Sponsorship that does NOT require approval from the Compliance Department.
Events put on by trade associations, non-profit, school, community organization or business that is not a settlement service provider
Advertising for these sponsorships DOES require approval.
Original itemized paid receipt is required for expenses over this amount
$25
If receipt is lost, either a copy of the cancelled check (front & back), a redacted bank/credit card statement or other proof of payment can be accepted only when accompanied by an invoice.
Cash cannot be used for any transaction over $25
Deadline for cardholders to submit Corporate Card reports each month.
15th of the following month
Corp card reports can be submitted as early as the 5th of the following month and must be submitted no later than the 15th.
PLEASE DO NOT REMOVE ANY TRANSACTIONS FROM THESE REPORTS!
The balance found on the BDAP account summary is always current and up to date.
FALSE
Charges for Corporate Marketing Platforms (Elevate, Engage, Sozo, BombBomb etc) can be found posted to your BDAP account 1-2 months from the date incurred due to the 3rd party billing process.
Expenses incurred out of pocket are posted by the end of the same month your reimbursement request is approved.
Contributions post twice a month (within 7 days of pay period)
Name an expense that is NOT eligible for BDAP reimbursement
Cell phones, Charitable Contributions, Office Furniture, equipment, employee meals/gifts and gifts to realtors are strictly prohibited.
Name an expense type that requires compliance approval attached to each expense report.
Advertising, Lead Generation, Other Marketing
Anything Co-Sponsored
**SIDE NOTE** Business cards not ordered through Guild Swag/ABS website require CMP approval
What is the policy recommended meal max per person for lunch?
$50/breakfast or lunch
$75/dinner
$100/recruiting
includes tax, not tip. Tip should not exceed 25%
When traveling, this is not per diem, it is per meal and amounts do not "carryover" for missed meals.
Number of days a manager has to approve an expense or corp card report
20 days
If not approved within 20 days, reports are automatically returned to the employee.
Employees should resubmit and notify their supervisor.
Other than Promo Items, Gifts to Realtors are strictly prohibited.
TRUE
In order to comply with RESPA and other Auditory Agency requirements only Guild branded items may be distributed to any third party settlement service provider. A picture or proof of branding is required.
*this includes appreciation and holiday gifts