Streamlining State Advertising Disclosures
States should adopt uniform advertising disclosures for mortgage lenders they license.
Overview: Current state licensing disclosure requirements for print and electronic advertising are not achieving their intended objective of informing and protecting consumers because they convey little useful information. In fact, when print, radio or television ads are circulated in multiple states, the preponderance of licensing disclosures render them collectively invisible to consumers. MBA urges state regulators to implement a uniform licensing disclosure protocol that directs consumers to use the NMLS unique identifier on the NMLS Consumer Access Website. If done nationally, this would significantly help expand consumer information and protections.