By Jann Swanson

Posted To: MND NewsWire

This story can be adequately summed up with the internet meme: ‘ facepalm .’ Yet another ethically challenged lender is going to pay for implying a government agency sponsors or endorses its products. If there’s a gray area here, it’s hard to see what it would be. This time it is RMK Financial Corporation, a California-based mortgage lender which decided it was a good idea to market its products to tens of thousands of military personnel and veterans using Department of Veterans Affairs and FHA logos . Not surprisingly, they were caught. The Consumer Financial Protection Bureau (CFPB) announced on Thursday it had taken action against the company, which also does business as Majestic Home Loans, for deceptive mortgage advertising including using ads that led consumers to believe it was affiliated…(read more)

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Via:: $250k CFPB Penalty For Blatantly False Advertising

      

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Written by : Mortgage News Daily

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