Sierra Pacific's Advertising Policy Quiz! Trivia

Ads intended for realtors or other mortgage professionals need not compy with TILA, but must have a "professionals only" disclosure on the bottom of the communication.

The exact same wording must be used in the English version and it must be on the same ad. For example, a flier may be produced in Spanish on one side, with the exact English translation on the reverse side.

The interest rate/APR by themselves are not triggering terms under TILA.

In order to comply with advertising regulations, all advertisements must include the full company name, including any doing business as (dba) names. Additionally, both the company and individual NMLS numbers must be provided to ensure transparency and regulatory compliance. The Equal Housing Lender Logo is required to indicate that the company is committed to fair housing practices. Including a picture of the loan officer helps to establish a personal connection with potential customers. Lastly, state license(s) information must be included to demonstrate that the company is authorized to operate in the respective state(s).

Not only must we approve the content, but we are required to keep copies of all advertising.

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The four choices that are considered "trigger terms" under TILA are: Down payment percentage or amount (credit sales), Number of payments or period of repayment, Payment amount, and Finance charge amount. These terms are considered triggers because they are key factors that can affect the cost and terms of a loan or credit agreement. Lenders are required to disclose these terms to borrowers under the Truth in Lending Act (TILA) to ensure transparency and protect consumers.

Most disclaimers of a term should be placed near the term itself.

Advertisers should be extremely careful in advertising through social media outlets because there may be too few characters or space available for all required disclosures. This means that advertisers may not have enough room to include all necessary information about their products or services, potentially leading to misleading or incomplete advertisements. Additionally, advertisers may be on the Do Not Call list, which means they are prohibited from making unsolicited calls or messages to certain individuals. Mixing personal and business messages on social media can also be tricky, as it may blur the lines between personal and professional relationships. Finally, privacy issues may arise when advertising on social media, as personal information may be shared or accessed without consent.

"Advertising" includes various forms of communication used to promote a product or service. This can include messages in newspapers, magazines, catalogs, as well as radio, video, or public address announcements. Online messages, such as advertisements on websites or social media platforms, are also considered advertising. Additionally, brochures, leaflets, fliers, handouts, and posters are common forms of advertising materials. However, personal contacts with a consumer and communication about an existing account may not be considered traditional forms of advertising, as they are more focused on customer service or account management.