Section 3 AAC 14.510 - Misleading, unfair, or deceptive advertisingMisleading, unfair, or deceptive advertising under AS 06.60.320 and 06.60.340(7),(11),or(25) includes the following practices by a person who is required to be licensed or registered under AS 06.60:
(1) making a representation or statement of fact in an advertisement if the representation or statement is false or misleading, or has the tendency or capacity to be misleading, or if the person does not have sufficient information upon which a reasonable belief in the truth of the representation or statement could be based;(2) advertising without clearly and conspicuously disclosing the complete name of the licensee or the registered depository institution, any other name listed in the registry, and the unique identifier of the mortgage licensee or the registered depository institution, and if the advertisement refers to the name of a mortgage loan originator, the unique identifier of the mortgage loan originator, except that the licensee or the registered depository institution is not required to display the unique identifier in radio or television advertisements;(3) advertising an address at which the mortgage licensee does not conduct mortgage brokering or mortgage lending activities;(4) advertising in a manner that misleads a person to believe that the advertisement or solicitation is from a person's current mortgage holder or a government agency, that an offer is a limited opportunity, or that a check is included in the advertising materials;(5) advertising any program that would be in violation of 24 C.F.R. Part 3500 (Regulation X);(6) misrepresenting, directly or by failure to adequately disclose, the terms, conditions, or charges incident to the mortgage loan being advertised; a violation of this paragraph includes (A) advertising an offer to procure, arrange, or otherwise assist a borrower in obtaining a mortgage loan on terms that the mortgage licensee cannot or does not intend to provide, or that the mortgage licensee knows or should know at the time the advertisement is made cannot reasonably be provided; and(B) advertising terms of credit while knowingly failing to disclose material limitations on the availability of that credit;(7) advertising in violation of applicable federal regulations.Eff. 7/1/2008, Register 186; am 12/4/2010, Register 196; am 1/1/2017, Register 220, January 2017Authority:AS 06.60.320
AS 06.60.330
AS 06.60.340
AS 06.60.910