Ads By Mortgage Lenders Come Under Scrutiny

Law360, New York (October 10, 2007, 12:00 AM EDT) -- The Federal Trade Commission’s warning last month to hundreds of mortgage lenders and brokers about their potentially deceptive advertisements is likely to spell more trouble for the mortgage industry down the road.

Finance lawyers say federal and consumer lawsuits are not far off for those companies that continue to churn out ads touting very low monthly interest rates and payment amounts that are misleading borrowers about the terms of the mortgage.

On Sept. 11, the FTC criticized certain ads for not explicitly stating that these “teaser”...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.