Ohio Administrative Code
Title 1301:8 - Division of Financial Institutions: Consumer Finance
Chapter 1301:8-7 - Rules Relating to Mortgage Brokers
Section 1301:8-7-07 - Advertising
Current through all regulations passed and filed through March 18, 2024
(A) Every advertisement placed, or caused to be placed, by a registrant or licensee shall:
(B) For purposes of paragraph (A)(2 of this rule, a registrant may opt to state only its NMLS unique identifier in lieu of stating both its certificate of registration number and NMLS unique identifier.
(C) For purposes of paragraph (A)(3) of this rule, a licensee may opt to state only his or her NMLS unique identifier in lieu of stating both the licensee's license number and NMLS unique identifier.
(D) When the information required by paragraphs (A) to (C) of this rule appears in a written advertisement, it shall be clearly legible to a reasonable borrower.
(E) Paragraphs (A) to (D) of this rule shall not apply to advertising done on pens, pencils, pocket calendars, balloons, coffee mugs, and similar promotional items.
(F) Website advertising shall comply with paragraphs (A) to (D) of this rule by placing the required information on every viewable web page of the website. In the alternative, maintaining a hyperlink on every viewable web page which links directly to a web page that contains the required information will satisfy the requirements of paragraphs (A) to (D) of this rule.
(G) A registrant shall keep its website advertising current. A registrant shall update or have updated its website advertising no later than thirty calendar days after any information becomes outdated or expired.
(H) It is a violation for a registrant or licensee to place or cause to be placed any advertisement that contains any material misrepresentation regarding any term of a residential mortgage loan, including, but not limited to:
(I) A violation of 12 C.F.R. 1014.2, 1014.3, or 1014.4, as in effect on January 12, 2014, shall constitute a violation of this rule.
(J) Licensees employed by or associated with qualified exempt entities shall not place or cause to be placed, an advertisement that fails to comply with this rule.
(K) Written or oral statements that are purely informational and not designed to effect or create interest in purchasing the services of a registrant or licensee are not subject to this rule.
Replaces: 1301:8-7-07