ComplianceOnline

Mortgage Advertising: Keeping Your Promotions Compliant

Instructor: Craig M Taggart
Product ID: 704542
Training Level: Basic
  • Duration: 90 Min

recorded version

$249.00
1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section

Training CD

$399.00
One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

Customer Care

Fax: +1-650-963-2556

Email: customercare@complianceonline.com

Read Frequently Asked Questions

This mortgage advertising training program will discuss special requirements applicable to HELOC advertisements with introductory and promotional rates and the new TILA/RESPA disclosure required for written estimates of terms or costs. It will also offer best practices for reviewing mortgage advertisements to reduce compliance and UDAAP risks and tips on using the "one-click rule" to advertise mortgage loans on websites and in social media.

"Mortgage Advertising: Keeping Your Promotions Compliant" - This course is approved by NASBA (National Association of State Boards of Accountancy). Attendees of Live Webinar are eligible for 1.8 CPE credit up on full completion of the course.

Why Should You Attend:

Mortgage advertising is complex. Different rules apply to home equity lines of credit (HELOCs) and closed-end mortgage loans. In addition, the required disclosures depend on whether a trigger term is used in the advertisement. Add an online or social media advertisement and the potential for noncompliance increases dramatically. This webinar will examine the regulatory requirements and provide attendees with best practices for creating and reviewing compliant mortgage advertisements.

Learning Objectives:

  • Various trigger terms and the additional disclosures that are required
  • Special requirements applicable to HELOC advertisements with introductory and promotional rates
  • Tips on using the "one-click rule" to advertise mortgage loans on websites and in social media
  • New TILA/RESPA disclosure required for written estimates of terms or costs
  • Best practices for reviewing mortgage advertisements to reduce compliance and UDAAP risks
  • Take-Away Toolkit with a list of trigger terms for HELOCs and closed-end mortgage loans, excerpts of key regulatory requirements and official staff commentary, an article on seven advertising compliance tips for financial institutions, an employee training log and a staff quiz/answer key

Areas Covered in the Webinar:

  • Apply print advertising rules to social media
  • Use disclosures when necessary
  • Clearly state your rates and terms
  • Make the equal housing logo easy to find
  • Know the difference between equal housing opportunity and equal housing lender
  • Keep your NMLS# visible
  • Avoiding including lyrics on ads without permission
  • Be aware of trigger words that require disclosures
  • Know your state regulations

Who Will Benefit:

  • Mortgage lending
  • Mortgage brokers
  • Home buyers
  • Marketing
  • Compliance and audit teams
  • Advertising executives

Instructor Profile:

Craig Taggart has almost a decade of experience in the fields of mergers and acquisitions and business financing. Mr. Taggart works strategically with his clients to achieve the highest value for their business within the capital markets. His experience with BCC Capital Partners in the M&A industry has greatly contributed to his understanding of transaction structure, strategic placement of buyers, and the attainment of maximum market value for his clients. He has represented and sold many businesses in a number of different industries and has significant experience working with companies in: continuing education, transportation, software and professional services. Mr. Taggart is currently working in the clean energy sector that covers multiple initiatives within M&A and corporate development.

He is a certified merger and acquisition advisor, accredited valuation analyst as well as an active member of Alliance of Mergers and Acquisition, and The National Association of Certified Valuators and Analysts (NACVA). His knowledge and expertise also extends to systems such as: Software as a Service (SaaS), and ERP and CRM systems (Netsuite, Salesforce, Sage 100, 500, X3 ERP). Mr. Taggart has been a certified fraud examiner since 2011 and has previously worked at Deloitte with their quality risk management team.

He earned his MBA from the San Diego State University specializing in financial management. Mr. Taggart graduated from the California State University Northridge with a bachelor’s degree majoring in organizational psychology.

Topic Background:

A loan originator’s marketing strategy has become a two-sided coin. On one side, there is a genuine necessity to promote and advertise using every tool within arm’s reach. On the other side, regulations have become an overbearing and complicated machine that suffocates any form of creativity on social media and print advertising. Your originators are between a rock and a hard place; their intense desire to market is matched by absolute fear of regulatory conditions.

Since the Consumer Financial Protection Bureau (CFPB) manhandled authority from the Federal Reserve Board (FRB), amendments have been made to the Truth in Lending Act, or Regulation Z, which governs advertisements concerning financial information, among many other things. Though the CFPB is well-intentioned, the Dodd Frank amendments can be considered the strictest and most complex laws set forth.

Most violations of Regulation Z are unintentional, but ignorance of the law isn’t a defense. While these rules are complex and the fines are heavy, Regulation Z shouldn’t scare finance professionals from omitting any marketing strategies. With a proper understanding of the rules, the originator’s coin becomes manageable and, in some respects, it even becomes a beneficial situation. After all, originators who understand the current regulatory climate often have a greater advantage over their competitors.

We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at 650 620 3961. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200, www.learningmarket.org, e-mail cpe@nasba.org.


Field of Study Minutes CPE
Communications 90 1.8
Total Duration - 90 Min Total Credits - 1.8

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