Federal Mortgage LawsQuestion 88 of 400
Regulation N (the MAP Advertising Rule) applies to commercial communications about mortgage credit products made by which of the following?
a.Only federally chartered banks
b.Only real estate agents
c.A broad range of persons, including mortgage brokers, lenders, servicers, and advertisers
d.Only appraisers
Explanation
The Mortgage Acts and Practices Advertising Rule (Regulation N) applies broadly to persons who advertise mortgage credit products, including mortgage brokers, lenders, servicers, advertising agencies, and others involved in such commercial communications. Its prohibition on material misrepresentations is not limited to a single category of entity.
Law Reference: Mortgage Acts and Practices Advertising Rule (Reg N, 12 CFR 1014)Practice all 400 questions free — no signup required.
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