Mortgage Acts and Practices (MAPS) Advertising Compliance Course

Unless you are specifically exempted from FTC oversight anyone subject to MAAPS should be aware of this law and its requirements.  The FTC and State authorities can use this weapon to seek civil penalties for anyone caught using deceptive mortgage advertising.  This rule encompasses mortgage lenders, mortgage brokers, servicers, real estate agents, advertisers, brokers, builders, lead generators and more and companies should be certain their staff are appropriately trained on the rules to avoid penalties and/or fines.

This 17-minute course will highlight key components of the Mortgage Acts and Practices Act, also known as Regulation N. This course will also introduce you to the purpose of this law, as well as provide examples of what may constitute a potential violation, in order to help mortgage professionals avoid potential fines and penalties when advertising. Topics covered Include:

• The History of & Need for Regulation N;
• Key Terms;
• Prohibited Representations;
• Recordkeeping Requirements; and
• Identifying Potential Violations;