FTC Mortgage Acts & Practices Advertising MAP Rule Change
Date 8/24/2011
This new rule covers:
- any commercial communication regarding
- any term of
- any mortgage credit product, and
- imposes certain recordkeeping requirements.
That is a lot of “anys”, but I digress. The rule is very broadly written and contains very broad definitions of the above elements. And the rule also covers a variety of individuals and companies, including but not limited to, mortgage lenders, mortgage brokers, mortgage servicers, real estate agents and brokers, advertising agencies, home builders, lead generators, and rate aggregators.
Attached is the Full Article