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New Regulations To Ban Deceptive Advertisements By Mortgage Brokers

The Federal Trade Commission is about to make new regulations for advertising by mortgage brokers after being authorized by Congress this month. The new regulations will seek a ban on such advertisements that are misleading and are aimed at deceiving general public by providing false information.

Use of deceptive practices by mortgage brokers while advertising is one of the reasons for growing foreclosures across the US, if not the only reason of the problem, the chairperson of FTC was reported saying. New regulations are a need of the hour as a lot of mortgage holders have been deceived so far.

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