Md. Code Regs. 09.03.06.06

Current through Register Vol. 51, No. 25, December 13, 2024

Section 09.03.06.06 - Advertising and Solicitation

A. A person may not publish, or cause to be published, any advertisement, or make or cause to be made any representation, that:

(1) Contains any false, misleading, or deceptive statements regarding the making, brokering, or servicing of mortgage loans; or

(2) Misrepresents terms, availability, rates, or charges incident to a mortgage loan.

B. Licensee Name and Address.

(1) A licensee may not advertise under any name or address other than a name or address that:

(a) Appears on its license; or

(b) Has been approved by the Commissioner pursuant to Regulation .04L of this chapter and is listed as a trade name on the licensee's NMLS record.

(2) Notwithstanding §B(1) of this regulation, an advertisement:

(a) Need not disclose any address of the advertiser; and

(b) May use the trade name of a parent corporation.

(3) Notwithstanding §B(1) of this regulation, a licensee may use an e-mail address or website address that is different from the name or address that appears on the licensee's license, provided that the content of any e-mail correspondence, or of the website itself, uses only a name that appears on the licensee 's license or has been approved by the Commissioner pursuant to Regulation . 04L of this chapter and is listed as a trade name on the licensee 's NMLS record.

(4) A licensee shall disclose its NMLS unique identifier in every advertisement.

(5) Notwithstanding §B(4) of this regulation, a licensee who utilizes social media for advertising purposes need not disclose the licensee's NMLS unique identifier in each statement published through a social media platform, provided that the NMLS unique identifier is displayed prominently on the licensee 's profile page within the social media platform.

(6) A licensee is responsible for a violation of §A of this regulation even if a parent corporation's trade name is used as permitted in §B(2)(b) of this regulation.

(7) A licensee is responsible for any advertisement disseminated by an employee of the licensee if such advertisement relates to activities performed by the licensee or by the employee in the employee's capacity as an employee of the licensee.

Md. Code Regs. 09.03.06.06

Regulations .06, Code of Conduct_Mortgage Lenders, adopted as an emergency provision effective July 1, 1989 (16:14 Md. R. 1564); emergency status extended at 16:26 Md. R. 2782 (Emergency provisions are temporary and not printed in COMAR)
Regulations .06, Mortgage Lenders, adopted effective February 19, 1990 (17:3 Md. R. 297)
Regulation .06A amended effective July 31, 1995 (22:15 Md. R. 1119); amended and recodified from .05 effective 46:19 Md. R. 813, eff. 10/4/2019