Yearly Archives: 2021

Mortgage Loan Originators failed to clearly display NMLS unique identifier on social media platforms such as Facebook, LinkedIn, etc.

This entry was posted in Advertising Rules Advertising Strategies State Advertising Rules You Want to Know on by

The state of New Mexico Financial Institutions Division sent out a notice this week reminding licensees that the mortgage company and the licensed mortgage loan originators need to post their NMLS numbers in Facebook and the NMLS. This is not a new thing. And New Mexico’s expectations are not any different than any other state’s general requirements.

Be sure to double check that your consumers can locate in a clear and conspicuous area in the Social Media site both your company’s full company name. business address, toll free phone number and NMLS number. Also, on any page taht promotes content of a licensed Mortage Loan Originator, make sure you include all of the above plus the MLO’s individual NMLS ID number.

Think you have already done this? Why not double check your pages right now on the social media platforms you use. Stay ahead of the regulators criticism by following these simple tips.

Some Ads just don’t meet the required disclosures?

This entry was posted in Sample Mortgage Ads on by

As a compliance attorney I take special note of advertisements I see in my day’s activities. I see some very thorough stuff and then some not so thorough advertisements. Sometimes there’s a total disregard of requirements. But will there be any push back on a bad ad? Will a regulator be informed of the non-compliance and deception of certain ads? (Not often).

This ad was shared with me by one of our readers. Fun times. Can you spot the various missing disclosures? (Hint – there are none, just call this number to get a loan?) My advice – don’t call these guys, why would you?