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Question 1 of 7
1. Question
Prohibited Representations
A mortgage advertisement states, “Use this loan to eliminate all your credit card debt forever,” even though the borrower will remain legally obligated for the debt unless it is paid in full.
Which prohibited representation may have occurred?
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Question 2 of 7
2. Question
Prohibited Representations
A lender mails advertisements displaying an eagle seal and wording that implies the program is sponsored by a federal agency, even though no government affiliation exists.
Which prohibited representation may have occurred?
CorrectIncorrect -
Question 3 of 7
3. Question
Prohibited Representations
A solicitation is designed to appear as though it was sent by the consumer’s current mortgage servicer, when it was actually sent by an unrelated lender.
Which prohibited representation may have occurred?
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Question 4 of 7
4. Question
Prohibited Representations
A reverse mortgage advertisement states, “You can stay in your home forever under all circumstances.”
Why could this statement be misleading?
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Question 5 of 7
5. Question
Prohibited Representations
A mail solicitation states, “Congratulations! You are guaranteed approval for our mortgage program.”
Which prohibited representation may have occurred?
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Question 6 of 7
6. Question
Prohibited Representations
A company advertises, “Your loan modification has already been approved,” before reviewing the consumer’s financial information.
Which prohibited representation may have occurred?
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Question 7 of 7
7. Question
Prohibited Representations
A mortgage assistance company advertises that its advisors are licensed housing counselors, but none possess the qualifications claimed.
Which prohibited representation may have occurred?
CorrectIncorrect