Iowa Code r. 187-18.18 - Advertising and representations to potential borrowers
(1) Any advertisement of mortgage loans which
are offered by or through a mortgage banker or mortgage broker licensee shall
conform to the following requirements:
a. An
advertisement shall be in compliance with Truth-in-Lending, Regulation Z, and
any other applicable state and federal laws and regulations.
b. An advertisement shall be made only for
such products and terms as are actually available and, if their availability is
subject to any material requirements or limitations, the advertisement shall
specify those requirements or limitations.
c. An advertisement shall not make any
statement or fail to make any statement the result of which shall present a
misleading or deceptive impression to consumers.
d. An advertisement shall clearly show the
licensee's unique NMLS identification number.
(2) A licensee receiving a verbal or written
inquiry about the licensee's services shall respond accurately to any questions
about the scope and nature of such services and any costs.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.