Proto-Emanant Metaverse (PEM®) Private Electronic Money (PEM®) Institute PEMI®

1.2.1 Why Q-PEM-®A Matters

Employee, Contractor Liability, Negligence

Many professional liability insurers have paid out millions of dollars in claims because inexperienced, fraudulent or negligent mortgage brokers, their employees or contractors have made grievous errors and omissions resulting in a material, negative monetary affect on their mortgage customers.

Q-PEM-®A Designation Certification Requirements

Q-PEM-®A Program & Courses of Instruction

Mortgage customers have lost property, money and piece of mind because an unqualified mortgage agent failed to transact a private mortgage transaction properly, in accordance with generally accepted private equity mortgage transaction principles.

The worst thing for a mortgage customer, is to have a mortgage agent who is not even insured for negligence because the traded in a field that is not covered by their errors and omissions policy. Further, there some mistakes that a mortgage broker can make that won't be insured by professional liability insurance because it is deemed as fraud.

Another example is if the mortgage broker were to practice "out-of-jurisdiction" and then make a mistake on the mortgage transaction. Insurers will not cover claims of this nature since is beyond the scope of the original liability coverage.

The Q-PEM-®A designation helps to address these concerns because it is the best way to determine if your mortgage agent is both qualified and recognized to trade in private mortgages.