Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1050 - RESIDENTIAL MORTGAGE LICENSE ACT OF 1987
Subpart H - ADVERTISING
Section 1050.950 - Misleading and Deceptive Advertising Prohibition

Universal Citation: 38 IL Admin Code ยง 1050.950

Current through Register Vol. 48, No. 12, March 22, 2024

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.

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