News & Events

News & Events

10.19.2009

Devlin Interviewed by KOMO-TV on Mortgage Loan Advertising and Disclosures

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KOMO-TV news recently interviewed John Devlin, Chair of Lane Powell’s Mortgage and Consumer Finance Litigation Industry Team, regarding pending changes in federal law on mortgage loan advertising and disclosures. In the segment, Devlin said, “If you use the term fixed, you must be very specific about exactly what you mean by that and it has to be clear and conspicuous. You cannot say that the people at this phone number will counsel you, or our counselors are available. You can’t use that term at all. If I’m trying to sell a loan that’s going to cover X number of years, then the hypothetical I give you has to be the same, period, as the loan that you will be buying from me.”