What must MLOs include when advertising mortgage products?

When advertising mortgage products, it is essential for Mortgage Loan Originators (MLOs) to include clear and accurate information about terms and costs. This requirement aligns with regulatory standards aimed at promoting transparency and protecting consumers. Providing precise terms and costs allows potential borrowers to fully understand the mortgage products being offered, including interest rates, fees, and payment structures. This clarity is crucial for informed decision-making and helps to establish trust between the MLO and the client.

Moreover, regulations such as the Truth in Lending Act (TILA) mandate that lenders disclose specific information to consumers, including the Annual Percentage Rate (APR), total costs of the loan, and any pertinent fees. Ensuring this information is readily available in advertising helps maintain compliance with these regulations and promotes ethical lending practices, ultimately leading to a better experience for borrowers.