Advertising by mortgage lenders is governed by both federal and state rules. The federal Truth in Lending Act dedicates an entire section to advertising consumer credit.
The two most common violations of the Truth in Lending Act are advertising a note rate without the annual percentage rate and using a trigger term, such as the amount of the down payment, without the required disclosures.
Oregon also has several Oregon Administrative Rules on advertising, governing everything from what ads can and cannot promise to what direct-mail pieces should look like.