Certified Mortgage Advisor (CMA)

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A Certified Mortgage Advisor creates a social media post that prominently features the phrase "30-year fixed rates as low as 5.25%!" To comply with the Truth in Lending Act (TILA), what other information must the advertisement also clearly and conspicuously state?

The advisor's NMLS license number. The Annual Percentage Rate (APR) and other triggered loan terms. A disclaimer that rates are subject to change. The name and address of the primary lender funding the loan.

Correct Answer:

The Annual Percentage Rate (APR) and other triggered loan terms.

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