Home > Uncategorized > Does Your Mortgage Advertisement Violate Federal Law?

Does Your Mortgage Advertisement Violate Federal Law?

Today the Federal Trade Commission came out with a press release indicating that certain real estate agents, home builders and other real estate professionals may be violating federal law with their advertisement.

The FTC protects consumers from unfair or deceptive business practices. As indicated in a form letter sent out to several companies, “The FTC also enforces the Mortgage Acts and Practices-Advertising Rule, Regulation N (MAP-AD Rule), 12 C.F.R. Part 1014, which specifically prohibits material misrepresentations in any commercial communication regarding the terms of any mortgage financing.”

Check out the FTC Press Release Here:

http://www.ftc.gov/opa/2012/11/mortgageadvertise.shtm

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