Whether on print or online, Regulation Z requires that any information about loan terms and cost must also include a disclosure.
Your originators are between a rock and a hard place; their intense desire to market is matched by absolute fear of regulatory conditions.
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.
Established by the SAFE Act, NMLS ID’s are required to be made readily available to customers “in a manner and method practicable to the institution”.
They should be clearly visible on all application forms, advertisements, business cards and websites.
Are you wanting to quote someone on your website or include their words in a video?