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Regulators Warn Lenders and Mortgage Companies about Misleading Advertising

Regulating the advertising of mortgage products, always be aware and ask questions if it sounds too good to be true.

As I have shared many times, I am not a fan of over-regulations of anything, but we are presently stuck with Dodd-Frank and that is the way it is. 

OK, since we have these regulations and the Consumer Financial Protection Bureau, then do the job you were supposed to do. We have had laws in every state about misleading mortgage advertising, long before Dodd-Frank, that is supposed to protect veterans, the elderly and the consumer in general.

If their job is to protect the public, then why aren’t they stopping the scammers, instead of warning them? This agency was set up to stop such action, so if that is the responsibility, then do your jobs.

Regulators Warn on Misleading Ads Targeting Veterans, Older Americans

By: Jann Swansom

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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