So the marketing team has developed an idea to promote a new mortgage product and that is to advertise a free voucher for a tree from a large local grower with every mortgage. The advertisement will be geared towards the new product but anyone will be able to get the voucher upon closing no matter which product they chose for their mortgage. I have never encountered a marketing idea like this so I am not sure if there is any issues with the idea. There will be the normal disclosures of FDIC and Equal Housing Opportunity lender on the ad but can the bank even do this? Can we advertise that we will give the mortgagee a voucher at closing.

FYI the voucher is for $50 tree with a $89 purchase.

What if I am buying a condo?

On a more serious note, I don't see why you couldn't do this. Just make sure you have strong language explaining the conditions for getting the voucher.

I don't like mortgage people (out of principal ), but this one actually sounds like a good idea.

I'm sure others will chime in soon.

Haha, We are in a very Rural area and I can not list one Condo within our Lending area. But I sure we would work something out.

Yes we are going to make sure it states in the ad that the voucher is received upon closing of the mortgage during a certain time period( I think we are going to the end of the year).