Illinois § 3-3 Advertising

Illinois Statutes

§ 3-3 — Advertising

Illinois·Topic REGULATION·Ch. 205 FINANCIAL REGULATION·Act 205 ILCS 635/ Residential Mortgage License Act of 1987.·Art. Article III - Operations, Capitalization, Insurance

In addition to such other rules and policies as the Secretary may adopt to effectuate the purpose of this Act, the Secretary shall adopt rules governing the advertising of mortgage loans, including without limitation, the following requirements:

(a)Advertising for loans transacted under this Act may not be false, misleading, or deceptive. No entity whose activities are regulated under this Act may advertise in any manner so as to indicate or imply that its interest rates or charges for loans are in any way "recommended", "approved", "set", or "established" by the State or by this Act. The Secretary may issue a cease and desist order for any violation of this Section.

(b)Mortgage loan advertisements must reference the Nationwide Multistate Licensing System and Registry's Consumer Access w

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In addition to such other rules and policies as the Secretary may adopt to effectuate the purpose of this Act, the Secretary shall adopt rules governing the advertising of mortgage loans, including without limitation, the following requirements: (a) Advertising for loans transacted under this Act may not be false, misleading, or deceptive. No entity whose activities are regulated under this Act may advertise in any manner so as to indicate or imply that its interest rates or charges for loans are in any way "recommended", "approved", "set", or "established" by the State or by this Act. The Secretary may issue a cease and desist order for any violation of this Section. (b) Mortgage loan advertisements must reference the Nationwide Multistate Licensing System and Registry's Consumer Access website, except where exempted by the Secretary. (c) No licensee shall advertise its services in Illinois in any media, whether print or electronic, without including its unique identifier.

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