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Advertising and MarketingPolicy Manual[Sample Client]Table of ContentsTable of ContentsTABLE OF CONTENTS. 1CHAPTER 1INTRODUCTION. 51.11.21.31.41.5CHAPTER 2GOALS AND OBJECTIVES . 5REQUIRED REVIEW . 5APPLICABILITY . 6INTERPRETATION AND REASONABLENESS . 6DEFINITIONS. 6ACCOUNTABILITY AND MONITORING . 10CHAPTER 3INTERNAL CONTROLS . 10e2.1STAFF AND TRAINING . 124.14.24.34.44.54.64.74.84.94.10RELATED REGULATIONS . 14CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM . 14CAN‐SPAM ACT . 14CONSUMER REVIEW FAIRNESS ACT . 15COPYRIGHT LAW . 16DODD‐FRANK WALL STREET REFORM AND CONSUMER PROTECTIONACT . 16EQUAL CREDIT OPPORTUNITY ACT . 17FAIR CREDIT REPORTING ACT . 17FAIR DEBT COLLECTION PRACTICES ACT . 17FAIR HOUSING ACT . 17FEDERAL TRADE COMMISSION ACT . 17SamCHAPTER 4ONGOING TRAINING . 12NEW HIRE TRAINING . 13pl3.13.24.10.14.10.24.114.12HOME OWNERSHIP AND EQUITY PROTECTION ACT . 19MORTGAGE ACTS AND PRACTICES —REGULATION N . 194.12.14.12.24.12.34.13Prohibitions Against Unfair, Deceptive, or Abusive Acts or Practices . 18Bait and Switch Advertising . 18Waiver Not Permitted . 21Recordkeeping Requirements . 21Enforcement and Penalties . 21MORTGAGE ASSISTANCE RELIEF SERVICES —REGULATION O . 214.13.14.13.2Prohibitions . 21Disclosures Required . 23Copyright 2011 – 2019AllRegs by Ellie Mae. Ellie Mae, Inc. ALL RIGHTS RESERVED. Without the prior written permission of Ellie Mae, no part ofthis work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [SampleClient].1
Advertising and MarketingPolicy Manual[Sample Client]Table of Contents4.144.15REAL ESTATE SETTLEMENT AND PROCEDURES ACT —REGULATION X . 25SECURE AND FAIR ENFORCEMENT MORTGAGE LICENSING ACT . 254.15.14.16TRUTH IN LENDING ACT —REGULATION Z . 264.16.14.16.24.16.34.16.44.16.54.16.6CHAPTER 5Available Terms . 26Clear and Conspicuous . 26Annual Percentage Rate . 26Triggering Terms . 27Disclosure of Rates and Payments . 29Tax Implications . 30ADVERTISING STANDARDS . 31UNFAIR AND DECEPTIVE ADVERTISING . 31MISLEADING OR MISREPRESENTED ADVERTISING . 32POWERFUL ADVERTISING . 33SPECIFIC COMPLIANCE STANDARDS. 33ple5.15.25.35.4Maximum Loan Amounts . 33Rates . 33Payments . 33Effective Rates . 34Triggering Terms . 34Sam5.4.15.4.25.4.35.4.45.4.55.55.65.7License or Registration Numbers . 25DISCLOSURES . 35LOGOS . 35MISCELLANEOUS DISCLOSURES . .105.8CHAPTER 66.16.26.2.1Standard, General Disclosures . 36Refinances . 36ARM Disclaimer Language . 36Brokered Products . 36Reverse Mortgages . 36Targeted Ads . 37Website Disclosures . 37Website Privacy Disclosure . 37Tax Deductibility . 37Payment Amount . 38RETENTION . 38SPECIAL TYPES OF ADVERTISING . 39TARGETED MAILING . 39PRINT ADVERTISEMENTS . 39Traditional Print Media . 39Copyright 2011 – 2019AllRegs by Ellie Mae. Ellie Mae, Inc. ALL RIGHTS RESERVED. Without the prior written permission of Ellie Mae, no part ofthis work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [SampleClient].2
Advertising and MarketingPolicy Manual[Sample Client]Table of Contents6.2.2Direct Mail . 406.36.46.56.6TV, RADIO, OR VIDEO ADS . 40EMAIL ADVERTISING . 40INTERNET ADVERTISING . 41SOCIAL MEDIA ADVERTISING . 416.6.16.6.2JOINT ADVERTISING/CO‐MARKETING . 43MULTIPAGE ADVERTISING . 43FAX ADVERTISING . 43TELEMARKETING . 44LOTTERIES . 44GIFTS . 44PROMOTIONAL ITEMS . 45BUSINESS CARDS . 45EMAIL CONTACT INFORMATION . 45BUSINESS PURPOSE ADVERTISING . 456.16.18.18.28.2.18.2.28.2.38.2.48.2.58.3CHAPTER 99.19.29.39.49.59.69.79.89.99.10Continuing Education Classes . 46WEBSITES . 47MORTGAGE PRODUCTS . 49SamCHAPTER 7CHAPTER 8ple6.76.86.96.106.116.126.136.146.156.16Business Purpose . 42Types of Social Media Advertising . 42FORWARD MORTGAGES . 49HOME EQUITY LINES OF CREDIT . 49Triggering Terms . 49Discounted and Premium Rate Products . 50Balloon Payments . 50Promotional Rates and Payments . 50Alternative Disclosures—Television or Radio Advertisements . 51REVERSE MORTGAGES . 52ADVERTISING AND MARKETING PROHIBITIONS . 53MISLEADING ADVERTISING OF “FIXED” RATES AND PAYMENTS . 53MISLEADING COMPARISONS IN ADVERTISEMENTS . 54MISREPRESENTATIONS ABOUT GOVERNMENT ENDORSEMENT . 54MISLEADING USE OF THE CURRENT LENDER'S NAME . 54MISLEADING CLAIMS OF DEBT ELIMINATION . 55MISLEADING USE OF THE TERM "COUNSELOR" . 55MISLEADING FOREIGN‐LANGUAGE ADVERTISEMENTS . 55UNLIMITED ACCESS TO CREDIT . 55MISREPRESENTATIONS ABOUT INTEREST CHARGED . 55MISREPRESENTATIONS ABOUT THE APR . 56Copyright 2011 – 2019AllRegs by Ellie Mae. Ellie Mae, Inc. ALL RIGHTS RESERVED. Without the prior written permission of Ellie Mae, no part ofthis work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [SampleClient].3
Advertising and MarketingPolicy Manual[Sample Client]Table of Contents9.11MISREPRESENTATIONS ABOUT THE EXISTENCE, NATURE OR AMOUNTOF FEES . 56MISREPRESENTATIONS ABOUT TERMS ASSOCIATED WITH ADDITIONALPRODUCTS . 56MISREPRESENTATIONS RELATING TO TAXES OR INSURANCE . 56MISREPRESENTATIONS REGARDING PREPAYMENT PENALTIES . 57MISREPRESENTATIONS ABOUT PRODUCT TYPE . 57MISREPRESENTATIONS ABOUT THE AMOUNT OF THE OBLIGATION . 57MISREPRESENTATIONS ABOUT PAYMENTS . 57MISREPRESENTATIONS ABOUT THE POTENTIAL FOR DEFAULT . 57MISREPRESENTATIONS ABOUT THE EFFECTIVENESS . 57MISREPRESENTATIONS ABOUT ASSOCIATION . 58MISREPRESENTATIONS ABOUT PRODUCT SOURCE. 58MISREPRESENTATIONS ABOUT CONSUMER’S RESIDENCE. 58MISREPRESENTATIONS ABOUT CONSUMER’S ABILITY . 58MISREPRESENTATIONS ABOUT COUNSELING SERVICES . 58KICKBACKS AND UNEARNED FEES . 599.1210.110.210.310.410.5APPENDIX – REGULATORY GUIDANCE. 60FTC CAUTIONS AND QUOTES . 60LIMITED ENGLISH PROFICIENCY . 60ENFORCEMENT EXAMPLES . 61STATE ENFORCEMENT EXAMPLES . 62FTC CONSUMER ALERT . 62SamCHAPTER .249.25Copyright 2011 – 2019AllRegs by Ellie Mae. Ellie Mae, Inc. ALL RIGHTS RESERVED. Without the prior written permission of Ellie Mae, no part ofthis work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [SampleClient].4
Advertising and MarketingPolicy Manual[Sample Client]IntroductionGoals and ObjectivesChapter 1 Introduction[Sample Client] requires that all advertising materials be truthful, non‐deceptive, reasonable, fair, andinclude all appropriate, required disclosures. Enforcement actions for unfair or deceptive advertising,as well as violations of the Truth in Lending Act (TILA) and implementing Regulation Z are increasing.Mortgage Acts and Practices (Regulation N) allows the Federal Trade Commission (FTC), ConsumerFinancial Protection Bureau (CFPB) and state regulatory agencies to seek civil penalties for violations.It is important for all employees of [Sample Client] responsible for the creation and distribution of anymarketing materials to understand that it is possible to violate consumer protection laws such as TILAand to violate the Federal Trade Commission Act (FTC Act) or the Mortgage Acts and Practices—Advertising Rule, and liability for non‐compliance exists under all laws.pleIn addition, there are other agency‐issued regulations and guidance that apply to mortgage lendingadvertising activities, including the Fair Housing Act requirements, Department of Housing and UrbanDevelopment (HUD) guidance for FHA‐approved lender or mortgagee programs, and individual statespecific laws and regulations. Liability for non‐compliance and the possibility for enforcement actionalso exist under all of these additional regulations and guidelines for [Sample Client].1.1Sam[Sample Client] is committed to the highest standards of federal consumer compliance and requires allmanagement, employees, and third‐party vendors to follow these policies and adhere to thesestandards.Goals and ObjectivesThe standards set out in this policy represent minimum requirements based on applicable legal andregulatory guidance and apply throughout [Sample Client]’s operations. These requirements areintended to prevent [Sample Client], its employees, and third‐party vendors from violating federalregulations related to mortgage banking and consumer compliance with respect to fair and truthfuladvertising and marketing practices.1.2Required Review[Sample Client] requires this policy be reviewed no less than annually. The review will include thecompliance of this policy with current law, regulation or directive, the procedural implementation ofthis policy within the then‐current scope of [Sample Client]’s business lines and operations, internal orexternal audit results received during the previous year, and then‐current industry trends or regulatoryguidance.Copyright 2011 – 2019AllRegs by Ellie Mae. Ellie Mae, Inc. ALL RIGHTS RESERVED. Without the prior written permission of Ellie Mae, no part ofthis work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [SampleClient].5
Advertising and MarketingPolicy Manual[Sample Client]Staff and TrainingOngoing TrainingChapter 3 Staff and Training[Sample Client] requires initial and ongoing training for all management and staff concerning thispolicy, other related policies, and underlying laws and regulations.Training may be conducted in a variety of settings utilizing any established education modality.Regardless the method of training delivery, all training must include the following: Presentation of the subject material oriented for the adult learnerAn assessment of the participant to validate command of the subject matter with a minimumpassing grade of 70%A completion certificate documenting satisfactory completion of the required trainingplA description of all training programsEvidence of attendance and satisfactory completion for each employee subject to this policyManagement response relative to additional training, reassignment or other responses for thoseemployees who may not have achieved a passing grade on the assessment and/or were not issueda completion certificateSam e[Sample Client] must maintain adequate records of this training program including the following:3.1Ongoing TrainingAll [Sample Client] employees will receive annual training commensurate with their job functions toensure current knowledge of this policy and the underlying laws and regulations which may impact[Sample Client] and the current state of law, regulation, and industry best practices.At a minimum, annual training should address the following requirements as covered in this policy: [Sample Client]’s policies and any changes within the last yearThe laws and regulations underlying this and other policies, including, but not limited to, thefollowing:ooooooooConsumer Review Fairness Act (CRFA)Controlling the Assault of Non‐Solicited Pornography and Marketing Act (CAN‐SPAM Act)Dodd‐Frank Wall Street Reform and Consumer Protection Act (Dodd‐Frank)Equal Credit Opportunity Act (ECOA) Regulation BFair Credit Reporting Act (FCRA) Regulation VFair Debt Collection Practices Act (FDCPA) Regulation FFair Housing Act (FHAct)Federal Trade Commission Act (FTC Act)Copyright 2011 – 2019AllRegs by Ellie Mae. Ellie Mae, Inc. ALL RIGHTS RESERVED. Without the prior written permission of Ellie Mae, no part ofthis work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [SampleClient].12
Advertising and MarketingPolicy Manual[Sample Client]Special Types of AdvertisingTargeted MailingChapter 6 Special Types of AdvertisingThe information in this section applies to special types of advertising, for which additional rules mayapply.6.1Targeted MailingTargeted mailings are generally direct mail campaigns that use information from mailing lists or publicinformation that may be purchased from a lead generation or marketing company. Any leadgeneration or marketing companies used for targeted mailings are subject to [Sample Client]’sdocumented vendor management approval process, policies, and procedures.eMailings to past customers are considered targeted mailings. These types of mailings are consideredadvertisements, subject to the provisions and guidelines in this policy.SamplThe purchasing of “leads” or “names” derived from a public source or marketing company is legal;however, payment must be made for “leads” only. Payment may not be made for closed or fundedloans only, nor may a higher payment for a closed loan be paid versus a “lead”. A flat fee for each leadmust be paid, regardless of whether a loan results from the lead.It is important that the criteria for leads purchased from a marketing or lead generation company notbe chosen in a discriminatory way or have discriminatory effects. For example, when choosing thetargeted mailing geographic region, lower income areas may not be excluded.[Sample Client] does not allow targeted mailing using information derived from a consumer creditreporting agency, also known as pre‐screened offers.6.2Print Advertisements[Sample Client] has no specific, separate policies which apply exclusively to print advertising. Printadvertisements are subject to this policy and all underlying company procedures and guidelines, asapplicable.6.2.1Traditional Print Media[Sample Client] requires that printed advertisements, such as newspaper or magazine copy, clearly andconspicuously disclose all the information about a mortgage loan product or offer that is likely toinfluence a borrower's purchasing decision. Additionally, printed ads must disclose the most importantinformation near the advertised price, such as the terms affecting the basic cost of the offer.Copyright 2011 – 2019AllRegs by Ellie Mae. Ellie Mae, Inc. ALL RIGHTS RESERVED. Without the prior written permission of Ellie Mae, no part ofthis work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [SampleClient].39
Without the prior written permission of Ellie Mae, no part of this work may be used, reproduced, or transmitted in any form or by any means, by or to any party outside of [Sample . marketing materials to understand that it is possible to violate consumer protection laws such as TILA and to
