Current through Register Vol. 54, No. 7, April 4, 2022
advertisement shall contain false, misleading or deceptive claims or
misrepresentations. In all advertisements which make express or implied claims
that are likely to be misleading in the absence of certain qualifying
information such qualifying information, shall be disclosed in the
advertisement in a clear and conspicuous manner. The use of any of the
following types of advertising shall be deemed to be misleading or deceptive:
1. A form which has the appearance of a
check, money order, draft or other instrument that is normally used for the
transfer of funds;
2. Reference to
loans by terms such as savings, thrift, share passbook, account, deposit,
certificate or any other word or phrase of similar meaning, used individually
or collectively; or
3. The placing
by a business licensee of a supply of blank notes, chattel mortgages, security
agreements, applications or other similar forms in any place other than a
Nothing in this section shall preclude the use of the term "mortgage banker" or
"correspondent mortgage banker" by duly licensed mortgage lenders or
correspondent mortgage lenders.
A person who is not licensed or exempt under the Act or this chapter shall not
offer residential mortgage loans in this State through direct or indirect
solicitation or advertisement in print, electronic or any other
N.J. Admin. Code §
Amended by R.2010 d.129,
effective 6/21/2010 (operative July 31, 2010).
See: 41 N.J.R.
2829(a), 42 N.J.R. 1139(b).
Section was "Prohibited types of
advertising". In the introductory paragraph of (a), inserted the first two
sentences; in the introductory paragraph of (a)1, substituted a semicolon for
", except that a consumer lender may use such an instrument if:"; deleted (a)1i
through (a)iv; in (a)2, substituted "; or" for a period at the end; in (a)3,
substituted "The placing by a business licensee of" for "No mortgage banker,
correspondent mortgage banker, mortgage broker, secondary lender, or consumer
lender shall permit", and deleted "to be placed" following "forms"; and added
(b) and (c).