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Question 1 of 7

1. Question
GENERAL AND CONSUMER-SPECIFIC COMMERCIAL COMMUNICATIONS

A mortgage assistance relief company places a newspaper advertisement promoting foreclosure rescue services.

Under MARS rules, how must the required disclosures appear in printed advertisements?
- A) In standard print at the bottom of the advertisement only
- B) Under the heading “IMPORTANT NOTICE” printed in bold type two sizes larger than the disclosure font
- C) Only in fine print on the reverse side of the advertisement
- D) Only if the advertisement guarantees loan modification approval
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Question 2 of 7

2. Question
GENERAL AND CONSUMER-SPECIFIC COMMERCIAL COMMUNICATIONS

A MARS provider conducts a telephone solicitation regarding foreclosure assistance services.

What statement must precede the required verbal disclosures?
- A) “Government approval of this program is pending.”
- B) “Your lender is required to modify your mortgage.”
- C) “Before using this service, consider the following information…”
- D) “This call is being monitored for loan approval purposes.”
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Question 3 of 7

3. Question
GENERAL AND CONSUMER-SPECIFIC COMMUNICATIONS

A foreclosure rescue company advises borrowers to immediately stop making mortgage payments while waiting for a loan modification review.

Why could this violate MARS rules?
- A) Borrowers are legally required to remain current on all mortgage payments
- B) MARS providers are prohibited from telling consumers to discontinue mortgage payments and must disclose that stopping payments could result in loss of the home and damage to credit
- C) Mortgage servicers may not discuss delinquency during modification reviews
- D) Consumers are prohibited from applying for loan modifications after default
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Question 4 of 7

4. Question
FEES AND WRITTEN AGREEMENTS

A MARS provider attempts to collect fees from a borrower before obtaining a finalized written agreement reflecting the mortgage assistance relief offer from the loan servicer.

Why could this violate MARS rules?
- A) MARS providers may collect fees only after a written agreement has been executed between the consumer and the loan holder or servicer
- B) Borrowers are prohibited from signing mortgage assistance agreements
- C) Mortgage servicers must always collect all MARS fees directly
- D) Federal law requires all MARS fees to be prepaid before negotiations begin
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Question 5 of 7

5. Question
FEES AND WRITTEN AGREEMENTS

A mortgage assistance relief company provides a written agreement to a borrower but fails to disclose that the borrower may reject the lender offer without owing payment.

Why could this violate MARS disclosure requirements?
- A) Borrowers are required to accept all loan modification offers
- B) MARS providers must disclose that consumers may accept or reject the offer and owe no payment if the offer is rejected
- C) Mortgage servicers determine all borrower disclosure requirements
- D) Loan modification agreements may not contain cancellation provisions
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Question 6 of 7

6. Question
FEES AND WRITTEN AGREEMENTS

A MARS provider places required disclosures within small print on page six of a service agreement.

Why could this violate MARS rules?
- A) Required notices must appear on a separate written page and be preceded by the heading “IMPORTANT NOTICE: Before buying this service, consider the following information.”
- B) Federal law prohibits written MARS agreements
- C) Mortgage assistance disclosures may only be provided verbally
- D) Consumers are prohibited from receiving written disclosure documents
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Question 7 of 7

7. Question
MODIFIED LOAN DISCLOSURES

A mortgage assistance relief provider gives a borrower a modification offer from the servicer but fails to provide information comparing the original and modified loan terms.

Which information should have been included?
- A) Only the property tax history for the previous five years
- B) Principal balance, interest rate, number of payments, monthly PITI payment, fees, and loan term
- C) The borrower employment history only
- D) The current market value of neighboring homes only
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