(205 ILCS 635/3-3)
(from Ch. 17, par. 2323-3)
In addition to such other rules
and policies as the Secretary may adopt to effectuate the purpose of
this Act, the Secretary shall adopt rules governing the
advertising of mortgage loans, including without limitation, the following
(a) Advertising for loans transacted under this Act
may not be false, misleading, or deceptive. No entity whose activities are regulated under this Act may advertise in any manner so as to indicate or imply that its interest rates or charges for loans are in any way "recommended", "approved", "set", or "established" by the State or by this Act. The Secretary may issue a cease and desist order for any violation of this Section.
(b) Mortgage loan advertisements must reference the
Nationwide Multistate Licensing System and Registry's Consumer Access website, except where exempted by the Secretary.
(c) No licensee shall advertise its services in
Illinois in any media, whether print or electronic, without including its unique identifier.
(Source: P.A. 100-795, eff. 8-10-18.)