Ill. Admin. Code tit. 38 § 1050.950

Current through Register Vol. 48, No. 50, December 13, 2024

Section 1050.950 - Misleading and Deceptive Advertising Prohibition

Advertisements by licensees shall not be false, misleading or deceptive. Examples of prohibited advertising include but are not limited to the following:

a) No advertisement regarding residential mortgage lending or brokering may indicate or imply that interest rates or charges for loans are in any way "recommended", "approved", "set" or "established" by the State or the Act;

b) The NMLS Unique Identifier of the licensee shall not appear in any advertisement relating to activities other than residential mortgage lending or brokering, unless wording relating to the licensee's residential mortgage services also appears in the such advertisements and in prominence equal to or greater than the language regarding its other activities.

Ill. Admin. Code tit. 38, § 1050.950

Amended at 29 Ill. Reg. 14808, effective September 26, 2005

Amended at 43 Ill. Reg. 5272, effective 5/10/2019

Expedited correction at 43 Ill. Reg. 9197, effective 5/10/2019