Mortgage Lenders Should Up Alertness Over Ads

Law360, New York (September 26, 2007, 12:00 AM EDT) -- The Federal Trade Commission announced last week that it had issued “warning” letters to more than 200 mortgage brokers and lenders, as well as media outlets that carry mortgage advertisements, alleging that the advertisements issued and carried by these companies are “potentially deceptive.”

In a press release issued Sept. 11, the commission stated that the letters were prompted by its “nationwide review” of mortgage ads featuring very low payment amounts or interest rates.

According to the FTC, its review of mortgage ads across the country revealed...
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