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About Admin

Our team has extensive experience in reviewing mortgage advertisements and advising clients about mortgage compliance issues including use of Compliance Management Systems, State and Federal compliance matters, and running the Legal and Compliance departments of major mortgage banking entities. Our company has Advertising Quick Hits learning Guides available as well as a self-study six week E-Course that will help your team member, or you, become more skilled at becoming an Advertising Compliance Officer for your company.

Sample Debt Settlement Advertisement 1

This entry was posted in Sample Mortgage Ads on by

I received my first debt settlement Advertisementi snap pack in the mail the other day. I have not seen one of these before.

Felt there was some trickery to the piece since the front of the envelope said Credit Card Settlement so I thought this might be a settlement check or some kind of notice related to a class action against my credit card company.

I was also puzzled that the ad had no notice regarding their licensing in California but maybe that is not required to be posted on the ad?

Take a look:

  

Beware of UDAP and UDAAP in Your Mortgage Ads

This entry was posted in Advertising Rules Advertising Strategies on by

There’s been a lot of enforcement on UDAAP lately in mortgage ads so what do we need to watch out for?

Some tips to be aware of:

  • When reviewing your ads, make sure the that the advertisement materials are accurate and easy to read.
  • Don’t use terms like “pre-approved” or “guaranteed” if in fact the recipient has not been preapproved or is not guaranteed to receive a loan from you.
  • Make sure your train your employees about UDAAP avoidance
  • Use scripts or call guides in your sales process to protect against UDAAP processes
  • Be careful about using small print or footnote disclosures to clarify what you mean in your advertised offer.
  • Avoid anything confusing or unclear in your headlines and your marketing message in your advertisements

See our UDAAP Article for More of these rules

Snap Pack advertisements may not open cleanly

This entry was posted in Sample Mortgage Ads on by

I received the below shown advertisement in the mail the other day and I noticed when I opened it that the glue used made it difficult to open the piece after the side perforated strips were torn off. As can be seen, part of the piece gets ripped and is hard to read.  Maybe this is not the best way to proceed with a mailer advertisement? Or maybe consumers don’t care so long as they can read the phone number and call in.  I guess it is the latter since I get one of these every few months ….

 

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