Mortgage loans; prohibited advertising.

Sec. 22a. (1) A licensee or registrant shall not, directly or indirectly, make a false, misleading, or deceptive advertisement regarding mortgage loans or the availability of mortgage loans. (2) A licensee or registrant shall not advertise any size of loan, security required for a loan, rate of charge, or other condition of lending except with the full intent of making loans at those rates, or lower rates, and under those conditions, to mortgage loan applicants who meet the standards or qualifications prescribed by the licensee or registrant. History: Add. 1996, Act 210, Imd. Eff. May 22, 1996; Am. 2008, Act 70, Imd. Eff. Apr. 3, 2008