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Opinion  Summary of Selected Opinion 97-174

Date: 07/04/1997
Organization: Division of Banks
Docket Number: 97-174

This opinion was issued during the third quarter of 1997.

Table of Contents

Restrictions On Publishing Mortgage Rates

It is the position of the Division of Banks that data published by a newspaper as statistical information for the benefit and use of its readers, obtained from a third party source which contracts with lending institutions to have their mortgage rates published, would not constitute advertising and therefore would not trigger Truth-in-Lending disclosures under Mass. Gen. Laws chapter 140D or 209 CMR 32.00 et seq. However, in order to be valuable to a consumer for meaningful comparison purposes, the listings should include the minimum percentage of down payment required for each of the loan products listed.

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