Sec2-Page 32

A mortgage advertisement promotes a loan with a 3.50% rate when the actual APR is substantially higher and the advertisement fails to explain the difference. What has been misrepresented?

A lender advertises No Fees even though borrowers must pay origination and processing charges at closing. What has been misrepresented?

A mortgage company advertises free credit disability insurance with every loan even though the insurance requires an additional premium. What has been misrepresented?

A mortgage advertisement states that property taxes and homeowners insurance are included in the monthly payment, but the borrower must actually pay them separately. What has been misrepresented?

A lender advertises that a loan has no prepayment penalty even though a penalty applies during the first three years. What has been misrepresented?

An advertisement repeatedly describes a mortgage as fixed even though the interest rate adjusts after five years. What has been misrepresented?

A mortgage advertisement compares a one-year introductory payment to a payment that appears to apply for the entire loan term. What advertising concern exists?

A lender advertises a loan as fully amortizing even though the product contains features that may prevent full amortization. What has been misrepresented?

A mortgage advertisement guarantees that every borrower will receive $50,000 cash at closing regardless of qualifications. What has been misrepresented?

A reverse mortgage advertisement states that borrowers can never default and will never have any payment-related obligations. What has been misrepresented?

A mortgage advertisement promotes a loan with a 3.50% rate when the actual APR is substantially higher and the advertisement fails to explain the difference. What has been misrepresented?

A lender advertises No Fees even though borrowers must pay origination and processing charges at closing. What has been misrepresented?

A mortgage company advertises free credit disability insurance with every loan even though the insurance requires an additional premium. What has been misrepresented?

A mortgage advertisement states that property taxes and homeowners insurance are included in the monthly payment, but the borrower must actually pay them separately. What has been misrepresented?

A lender advertises that a loan has no prepayment penalty even though a penalty applies during the first three years. What has been misrepresented?

An advertisement repeatedly describes a mortgage as fixed even though the interest rate adjusts after five years. What has been misrepresented?

A mortgage advertisement compares a one-year introductory payment to a payment that appears to apply for the entire loan term. What advertising concern exists?

A lender advertises a loan as fully amortizing even though the product contains features that may prevent full amortization. What has been misrepresented?

A mortgage advertisement guarantees that every borrower will receive $50,000 cash at closing regardless of qualifications. What has been misrepresented?

A reverse mortgage advertisement states that borrowers can never default and will never have any payment-related obligations. What has been misrepresented?