Reverse mortgages allow homeowners who are 62 or older to receive money from lenders by borrowing ag

Some of the ads boasted official-looking seals, logos or abbreviations that made it look as if they were affiliated with the Department of Veterans Affairs, the Federal Housing Administration or the Department of Housing and Urban Development.
The Federal southwest airlines airfares Trade Commission and the Consumer Financial Protection Bureau said Monday they had opened 19 investigations after a joint sweep of more than 800 ads. They also issued 32 warning letters to lenders and brokers.
southwest airlines airfares Misrepresentations in advertising for mortgage products pose a significant risk of harm to consumers because they can confuse and mislead consumers when they are making one of the biggest southwest airlines airfares financial transactions of their lives, said Kent Markus, the consumer bureau s assistant southwest airlines airfares director of enforcement. Those problems can be particularly significant for veterans and older Americans.
Regulators reviewed mortgage ads in newspapers, direct mail and on the Internet including on Facebook for violations southwest airlines airfares of the 2011 Mortgage southwest airlines airfares Acts and Practices Advertising Rule, which prohibits unfair or misleading advertising for any mortgage-credit product, from costs and payments southwest airlines airfares to interest rates and fees. Advertisers southwest airlines airfares that violate the rule could face fines.
Some of the ads boasted official-looking seals, logos or abbreviations that made it look as if they were affiliated with the Department of Veterans Affairs, the Federal southwest airlines airfares Housing Administration or the Department of Housing and Urban Development, regulators said.
Other ads offered fixed low rates without southwest airlines airfares disclosing the true terms of the loans, or contained mock checks that misled consumers into thinking they had been preapproved to receive specific amounts of money if they refinanced southwest airlines airfares their homes or took out reverse mortgages, regulators said.
Reverse mortgages allow homeowners who are 62 or older to receive money from lenders by borrowing against the equity in their homes. They are popular with older or retired homeowners because the arrangement allows them to stay in their homes and receive monthly payments or lump sums.
It s good news that they are watching and looking into things southwest airlines airfares and hopefully stopping them before they become southwest airlines airfares endemic, especially because so often these kinds of predatory products are targeted at military personnel southwest airlines airfares and the elderly, said Kathleen Day, a spokeswoman for the Center for Responsible Lending, a nonprofit group based in Durham, N.C.
Misleading advertising has been a problem in the mortgage industry for decades, southwest airlines airfares said Don Frommeyer, the president of the Association of Mortgage Professionals, a trade association headquartered in Plano, Texas.
They need to clean it up because there s too much confusion, Frommeyer said. When all is said and done, it should get back to a mortgage loan is a mortgage loan is a mortgage loan, and everybody should be licensed and have to follow the same rules.