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#1936459 - 06/27/14 08:47 PM ADVERSTISING
Complianceking Offline
Gold Star
Joined: Dec 2005
Posts: 437
West Coast
With respect to Regulation G of the SAFE Act, is there a requirement for providing an NMLS number of a Mortgage Loan Originator (MLO) number on an advertisement piece? Appreciate any guidance, but my belief is that it is not required.

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S.A.F.E. Act Forum
#1936490 - 06/27/14 09:49 PM Re: ADVERSTISING Complianceking
YosemiteSamIAm Offline
Power Poster
Joined: Jan 2004
Posts: 2,795
Guess
We put it on MLO-specific ads because it is the first "communication" between the MLO and the prospective customer.
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#1936495 - 06/27/14 10:02 PM Re: ADVERSTISING Complianceking
Complianceking Offline
Gold Star
Joined: Dec 2005
Posts: 437
West Coast
Thanks for the guidance,

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#1936514 - 06/27/14 10:51 PM Re: ADVERSTISING Complianceking
TMatt87 Offline
Diamond Poster
TMatt87
Joined: May 2011
Posts: 1,987
Idaho
It is not required to be in advertisements.

From the final rule

While, this provision does not require institutions
to include the unique identifier on loan
program descriptions, advertisements,
business cards, stationary, notepads,
and other similar materials, institutions
are not prohibited from doing so.
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#1936519 - 06/27/14 11:32 PM Re: ADVERSTISING Complianceking
Complianceking Offline
Gold Star
Joined: Dec 2005
Posts: 437
West Coast
Thanks so much. Would you happen to have the link to the final rule?

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#1936553 - 06/30/14 01:43 PM Re: ADVERSTISING Complianceking
#Just Jay Online
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Just click on the "Read-a-Reg" icon in the upper right hand corner under the Bankers Threads title!

Also, be sure to review your own state's version of SAFE since some states did write rules slightly more restrictive than the federal rules.
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