Marketing of Foreclosure-related Services

It is an unfair or deceptive act in violation of M.G.L. c. 93A, § 2(a): (a) to advertise, offer or promote the availability of Foreclosure Rescue Transactions or services related to Foreclosure Rescue Transactions; 940 CMR: OFFICE OF THE ATTORNEY GENERAL 25.03: continued (b) to advertise, offer or promote Foreclosure-related Services if the person so promoting intends to provide Foreclosure-related Services by offering, engaging in, arranging, promoting, promising, or soliciting participation in, a Foreclosure Rescue Transaction; (c) to advertise, offer or promote Foreclosure-related Services without disclosing, clearly and conspicuously: 1. the precise goods and/or services offered and to be provided by the promoter of Foreclosure-Related Services; and 2. a precise description of how the promoter will assist persons in avoiding or delaying foreclosure or curing or otherwise addressing a default or failure to timely pay a residential mortgage loan obligation. (d) for a licensed mortgage broker or licensed mortgage lender to advertise, offer or promote Foreclosure-related Services, where the goods or services promoted concern the offer, arrangement or placement of a residential mortgage loan (i.e., replacement financing), without complying with all laws and regulations that apply to the marketing of mortgage loans, including, without limitation, the regulations of the Commissioner of Banks (209 CMR 32.00 et seq.) and the Office of the Attorney General (940 CMR 8.00 et seq.).