Our bank is contemplating offering a mortgage with a 30 year term which will adjust once at the beginning of the 16th year. To promote this product our ad will refer to the "30/15 Mortgage." This verbage is exact and no other description of this mortgage product will be indicated.

What advertising disclosure requirements would I need to provide?

""30/15 Mortgage." This verbage is exact"

Exact? It means nothing to me.

Good. I was concerned it would be a trigger term since the term is 30 years.

If you indicate a 30 year term, that's a trigger.

Good? It represents the term of the loan and triggers additional disclosures. I meant that 30/15 means nothing to me regarding the type of product this might be. Unclear = read UDAAP.