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Receive up to $10,000 Cash Rewards™
…through our preferred partnership with Cash Rewards, Inc (CRI), we now offer a time-deferred, mail-in Cash Rewards© Program as a Thank You to our "Clients for Life"!
FAQ / Claim Fund & ITPA / Registration & Redemption / Press Release
How is this possible? Where does the money come from?
When you are issued a Cash Rewards certificate, The Barath Group is paying for your participation in the program with money we have redirected from our advertising and marketing budget. That money sits in a pool and it is paid out of this same pool on a monthly basis to certificate holders who properly redeem their Cash Rewards. Although Cash Rewards is not an insurance product or an investment, it does make payouts much the same way an insurance company does – from the premiums (Cash Rewards certificate purchases) of its customers.
When do I get my Cash Rewards Certificate?
You will receive your Cash Rewards certificate when you have successfully closed & funded a mortgage transaction with Benchmark Mortgage: The Barath Group.
Why must I register for the CRI program and then redeem later?
Registration is required so that Benchmark Mortgage: The Barath Group and the ITPA have a way to track and confirm participants in the program. Your registration is required to acknowledge your participation in the program and the redemption is required in order for you to get your cash.
Am I obligated to keep my purchase for the deferred period?
No, you are not obligated to do so. You are, however, required to prove that your mortgage closed and funded (executed HUD statement) as required by the program. For real estate and mortgage clients, you do not have to be living in the home you purchased when you were issued your Cash Rewards at the time you submit your redemption.
Who qualifies for a cash reward?
Any legal resident who utilizes Benchmark Mortgage: The Barath Group for their mortgage transaction is eligible. Only one borrower will receive a Cash Rewards certificate for each mortgage transaction within any given month. The only restriction is a minimum loan amount equal to or greater than $150,000.
How can the fund stay solvent?
Insurance, coupon and rebate programs like Cash Rewards work on the principles of slippage and breakage. What does that mean?
Slippage refers to the individuals who are not going to follow the steps correctly…who will forget to do something…who are not going to do it in time. And when they don’t do something properly, they can’t make a valid claim to redeem money from the fund. As a result, that money remains in the account for the people that do make valid claims.
Breakage refers to the statistical method of estimating how many people will not claim their funds. Some examples of where unclaimed money exists are unclaimed bank account balances, lottery winnings, PMI mortgage premiums, etc… The list is huge. In all these cases, the unclaimed money remains in the fund and it is used to pay for future claims, winnings and redemptions. Did you know that the IRS is holding $2.5 million in unclaimed tax refunds for calendar year 1999 alone?
What if Benchmark Mortgage and CRI go out of business?
It is important to Benchmark Mortgage: The Barath Group and CRI that the money available for redemptions is well cared for. In order to make sure that redemption claims get honored whether or not we are in business, we have the program an ITPA. This way, whether we or CRI go out of business, customers with valid certificates who follow the proper procedures will receive their Cash Rewards.
 
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