Advertising Strategies

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

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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.

How to Write a Mortgage Advertisement that Won’t Get You into Trouble

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How to Write a Mortgage Advertisement

How to Write a Mortgage Advertisement (that won’t get you into trouble)

You’ve been using Google, Bing or Yahoo to figure out one of the following:

  • What disclosures and disclaimers do I need on my mortgage ad?
  • Can I see some sample mortgage ads?
  • Do all the rules apply when my advertisement is a banner ad on a webpage?
  • Do I need a license to advertise mortgage loans?
  • What are the Truth in Lending Act and Regulation Z Rules that I need to comply with in my ad?
  • Marketing ideas for my mortgage loan business?
  • What online tools can I use to create better mortgage advertisements?
  • How can I advertise mortgage loans and not be sued for some wrong statement I make in my ads?

If you’re frustrated and ready to get ALL these answers and more, you’ve come to the right place! Advertiseyourloans.com is the ultimate resource for all things related to the mortgage loan industry.

Our Team is headed up by a licensed California attorney Ken Block. Ken has reviewed and  edited thousands of mortgage ads for mortgage lenders and brokers since 1997.

When Ken reviews proposed ads, he  follows a set of rules and checklists plus a lot of common sense. A few years ago, Ken started to put these checklists and rules into written notes here and there. Overtime, we have compiled all of Ken’s notes and summarized the rules you need to follow in this easy to read Guide.

Ken has seen it all and knows the best ways to handle the compliance rules that apply to mortgage advertisements as well as providing ideas for what’s working out there in today’s market.  Companies today are being fined millions for not following the steps and strategies that Ken describes in this easy to read How to Advertise Mortgage Loans Guide.

Spend as much time as you like reading our previous Posts. We’ve thoroughly discussed every aspect of the business including ads on social media sites like Facebook, Twitter, Instagram, use of banner advertisements, direct mail advertisements, online loan inquiry forms, electronic disclosures at websites, licensing, analysis of state-by-state advertising rules, The CFPB, mobile friendly websites, lead generation, lead buying, lead selling, EVERYTHING!

Finally, when you’re ready to be the compliance guru that reviews and approves new advertisements for your employer, client, or for your own Mortgage Company, get your copy of the  “How to Advertise Mortgage Loans ”  Guide. There is nothing like it anywhere. We have zero competition!

 

Order How to Advertise Loans Book

How to Advertise Mortgage Loans:

What Your How to Advertise Mortgage Loans Modules Teaches You:

  • Module 1 – How to Serve as Your Company’s Mortgage Advertising Compliance Officer
  • Module 2 – Regulation Z Triggers – Following the Truth in Lending Act Rules
  • Module 3 – Advertising Decisions You Will Need to Make
  • Module 4 – Avoiding UDAAP in Ads Plus Federal Trade Commission Act Rules
  • Module 5 –State Law Rules and Substantiation
  • Module 6 – Advertising on the Internet and via Social Media

How to Advertise Mortgage Loans Contents:

These detailed Modules will cover the basic steps involved in getting things set up and running. Don’t worry those of you who have some experience with reviewing marketing materials and familiarity with some of the rules you need to follow. This Guide will provide you with invaluable disclosure checklists, sample language to include in your advertisements, and sample mortgage product disclosures that will help you with your review process

Test Your Knowledge Real Life Advertisements to Learn From:

Make sure that you take the time to try the Test Your Knowledge Advertising Examples sections of the Guide. Email your answers and questions to [email protected].

Email Contact Required: Continue to email us with your questions. We will get you on the right track by answering your questions or at least pointing you in the right direction to learning the rules and the process to serve as your Company’s mortgage advertising compliance officer or to just review each of your ads as the owner of your mortgage company.

 

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Who is this “How to Advertise Mortgage Loans” Guide meant for? Business entrepreneurs, new and experienced mortgage company owners, mortgage brokers, compliance officers, experienced mortgage players who want to brush up on advertising rules – virtually anyone with a need for in-depth knowledge and access to a system to learn and refer back to the relevant rules when writing or reviewing new loan advertisements.

 

Click the Order Now button above to obtain instant downloaded copy of your Training Course in an easy to read PDF format.

Strategies to Track your mortgage ads

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I was attending the National Reverse Mortgage Lenders Association Meeting (NRMLA) in San Francisco and sat in on a session on marketing of reverse mortgage loans. The presenters addressed some good topics like marketing strategies, having a call to action in your advertisement, and tracking of your advertisements.

This topic of tracking your advertisements got me thinking not just about conversion and spending dollars on the right type of marketing each month but also on other important issues related to managing all of your mortgage advertising.

Tracking – one presenter talked about how his company asks the consumer about how he or she learned about their company. In fact – this particular presenter mentioned that they train their staff to ask the tracking question in three different ways on each call:Tracking ads cycle

 

  • How did you hear about us?
  • What advertisement did you see?
  • What number did you call?

See our Tracking Page for more of the story …

Beware of UDAP and UDAAP in Your Mortgage Ads

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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