ADVERTISING REQUIREMENTS

To maintain compliance with the Dept of Corporations’ financial codes 1950.204.3, 1950.204.4, Section 50308, and Section 50309, HTL has adopted the following internal requirements for any type of advertising provided to the public by any of our branches.

All advertising is also required to be approved in its final version prior to being run.  Please fax such items to the attention of the Compliance Dept at (916) 244-7282.  It will be reviewed, approved, and faxed back for your records.  Ads that have not been approved will not be eligible for reimbursement even if an invoice is submitted. 

Ø      Rates and Costs:  Rates will not be used in any advertising unless prior authorization is given.  Any loan costs that are quoted will be reflected exactly as advertised in both the initial good faith estimate and the final truth and lending statements.

Ø      Disclaimer:  All advertising must contain this phrase: “Licensed by the California Department of Corporations under the California Residential Mortgage Lending Act.” (In other states check web for licensing verbiage and license number)

Ø      Response to Advertising:  All advertising efforts will contain the name, location, and phone/fax/cell numbers of the company.  If you are using a fictitious business name, it is not necessary to include HTL’s name in the advertisement.  All publications are to include or reference only the name of the licensed business or company; no other business or company may appear in the ad.

Ø      ECOA:  All advertising efforts must contain that we are a Fair Housing Lender and are in compliance with the Equal Credit Opportunity Act.  Usually the symbol of a house accompanies this disclaimer.

Ø      Retention File:  We are required to maintain for 90 days from publication a copy of each flyer, article, newspaper ad, electronic media ad, or radio advertisement.  If it is media advertising, a copy can be emailed to Compliance, or it can be sent on a disk.  It is also required that the Branch establishes and maintains a file at the Branch location on each item for the same period of time.

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