STATE SPECIFIC ADVERTISING REQUIREMENTS

Arizona

Does the advertisement contain Arizona Mortgage Banker License No. BK0013635?
If a branch advertisement, does it contain branch office address on license?

California

Does advertisement contain ‘Licensed by The Department of Business Oversight under the California Residential Mortgage Lending Act’?
Did you confirm the advertisement does not contain a symbol or any item that could be reasonably interpreted to imply any federal, state or local government connection, approval or endorsement? Examples: Statements that AFI or employees are “bonded,” “supervised by,” “regulated by,” “audited by” or “examined by” California or any agency thereof.

Colorado

– Include State License Number in all Advertising

Regulated by the Division of Real Estate
Does the ad clearly and conspicuously show the mortgage company name?
Does the ad clearly and conspicuously show the mortgage company phone number?

Idaho

N/A

 

Minnesota

US Home Loans Logo
MN-MO-145368

Nevada

All ads and Internet sites must also include all requirements
The complete name of the mortgage banker or the complete name under which the mortgage banker does business.
The address, telephone number and either the license number or unique identifier that the mortgage banker has on file with the Division.
A description of any licensed activity mentioned in the advertisement, written in nontechnical terms.
If advertisement or website for LO, must contain:
The complete name of the LO
The name of the mortgage banker (AmeriFirst), with whom the mortgage agent is associated.
 The LO’s address and telephone number on file with the Division.
The LO’s license number or NMLS number
May not refer to existing lender or financial institution, other than the mortgage banker or LO themselves, on any advertising material without the written consent of the lender or financial institution.
An Internet link on a website of the mortgage banker or LO that links the user to the website of another commercial enterprise must provide notification to the user that the user is leaving the website of the mortgage banker or LO.


New Mexico 

N/A

North Dakota

N/A

Texas

  • AmeriFirst of Texas Logo

Utah

N/A

Washington

Washington Consumer Loan Company License No. CL-145368
The main or home page must also contain a link to the NMLS consumer access web site page for the company. http://nmlsconsumeraccess.org/

CHECKLIST REQUIREMENTS

AVOID DECEPTIVE ACTS/PRACTICES:

Have you confirmed the ad does not contain or omit information that is likely to mislead consumers acting reasonably under the circumstances?
If loan terms are listed, have you confirmed the loan terms are actually available for a reasonable period to a reasonable amount of potential applicants?
Have you confirmed that the advertisement does not use any of the following tag lines: “lowest costs”, “lowest rates”, “quickest service”, “easy payments”, “free and easy money”, “immediate approval”, “immediate closing”, or that AFI provides loans to those with “previous bankruptcy,” “no credit,” “bad credit?”?
Have you confirmed that any advertisement does not use the terms “pre-approved”, “pre-qualified” or similar phrases?
If the loan has prepayment penalties or a balloon payment, are those conditions adequately disclosed?
Have you confirmed that the advertisement does not refer to 3rd party services, such as appraisal or credit, as “free”?
If an INTEREST RATE is stated, is the APR stated in the same size font or bigger than the interest rate?
Is interest rate or APR expressed at least three decimal places, provided that ending zeros following the decimal point may be omitted?

TRIGGER TERMS:

Does the ad include ANY of the following:
The Amount or Percentage of Down Payment?
The Number or Payments or Period of Repayment?
The Amount of Any Payment (in dollar terms or as a %)?
Dollar Amount of Any Finance Charge (or any component of it including points, fees, mortgage insurance, balloon term)?
If you answered YES to any item in the Trigger Term section above, your ad MUST contain ALL of the following:
Amount or Percentage of the Down Payment
Terms of Repayment, which reflect the repayment obligations over the full term of the loan (Example for a 30 year mortgage:  360 monthly payments of $___ dollars per $1000 borrowed.)
APR*
* Annual Percentage Rate (APR) current as of {insert date of Ad} is subject to change daily without notice, and assumes a minimum FICO score of {insert minimum FICO}, no HOA fees, and a maximum loan-to-value ratio of {insert max LTV}% on an {occupancy} single family residence.
Any Other Minimum Criteria for Qualification (DTI, occupancy, etc…)
ARM LOANS ONLY: The quoted APR is for an adjustable-rate mortgage (ARM). The interest rate, APR, and payments may increase after initial loan consummation at the stated adjustment period, and the program, rates, fees, terms and conditions are subject to change. Does it state the initial adjustment date/period in an equally prominent size and location?

HELOC’S:

If a trigger term is used, have they disclosed:

  • Any minimum, fixed, transaction, activity or similar charge that is considered a finance charge under Regulation Z that could be imposed?
  • Any periodic rate that may be applied expressed as an Annual Percentage Rate? If the plan provides for a variable periodic rate, that fact shall be disclosed.
  • Any membership or participation fee that could be imposed?
  • Any loan fee that is a percentage of the credit limit under the plan and an estimate of any other fees imposed for opening the plan, stated as a single dollar amount or a reasonable range.
  • Any periodic rate that may be applied expressed as an Annual Percentage Rate as determined under § 226.14(b) of Regulation Z.
  • The maximum Annual Percentage Rate that may be imposed in a variable-rate plan.

DISCLAIMER

National Disclaimer (Print) – Revised September 3, 2013


AmeriFirst Financial, Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ  85203 (NMLS # 145368). 1-877-276-1974. Copyright 2013. All Rights Reserved. This is not an offer to enter into an agreement.  Not all customers will qualify.  Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. License Information: AZ: Arizona Mortgage Banker License No. BK0013635; CA: Licensed by The Department of Business Oversight under the California Residential Mortgage Lending Act; CO: Regulated by the Division of Real Estate; WA: Washington Consumer Loan Company License No. CL-145368, MN: MN-MO-145368.

National Disclaimer (Internet)


AmeriFirst Financial, Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ  85203 (NMLS # 145368). 1-877-276-1974. Copyright 2013. All Rights Reserved. This is not an offer to enter into an agreement.  Not all customers will qualify.  Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. Click Here for Licensing Information.