Business ProfileforCapital Mortgage Advisors, LLC

BBB's role in the marketplace is to ensure the public's confidence in advertising and promote trust in business.

In BBB's general review of Capital Mortgage Advisors, LLC’s website, an advertised claim(s) was found for which we requested written substantiation.

BBB reviews advertising on accredited and non-accredited businesses in every medium. Our request is based on BBB's Code of Advertising Standards that can be found at

https://www.bbb.org/code-of-advertising

BBB's requests are based on these specific codes:

The complete BBB Code of Advertising may be viewed online at https://www.bbb.org/code-of-advertising. For reference to the standards in question, please see the specific guidelines below:

1.0: Basic Principles of the Code

1.1 The primary responsibility for truthful and non-deceptive advertising rests with the advertiser. Advertisers should be prepared to substantiate any objective claims or offers made before publication or broadcast. Upon request, they should present such substantiation promptly to the advertising medium or BBB.

1.2 Advertisements which are untrue, misleading, deceptive, fraudulent, falsely disparaging of competitors, or insincere offers to sell, shall not be used.

1.3 An advertisement as a whole may be misleading by implication, although every sentence separately considered may be literally true.

1.4 Misrepresentation may result not only from direct statements, but by omitting or obscuring a material fact.

16. Credit

16.1 Whenever a specific credit term is advertised, it must actually be available to all consumers. The federal Truth in Lending Act, as well as applicable state and provincial laws set requirements for clearly and conspicuously disclosing credit terms in the advertisement.

16.2 In the United States, advertisers should carefully review the Truth in Lending Act and Regulation Z, which implements the Act, as well as Regulation M, which covers consumer leasing. They contain important provisions that affect any advertising to aid or promote the extension of consumer credit.

16.3 Open-end credit in the U.S.

16.3.1 The requirements for advertising open-end credit under Regulation Z are complex. Therefore, advertisers are advised to consult Section 226.16 of the Regulation (12 CFR 1026.16) for details, including prescribed terminology and information that must be disclosed. Examples of open-end credit include credit cards and other forms of “revolving credit.”

16.4 Closed-end credit in the U.S.

16.4.1 Advertisers are advised to consult Section 226.24 (12 CFR 1026.24) of Regulation Z for details of closed-end credit advertising. Examples of closed-end credit include installment loans and many automobile loans.

16.4.2 If an advertisement of closed-end credit contains any of the following triggering terms, three specific disclosures must also be stated, clearly and conspicuously.

16.4.3 The triggering terms are:

• The amount or percentage of any down payment;
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• The number of payments or period of repayment;
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• The amount of any payment, expressed either as a percentage or as a dollar amount; or
• The amount of any finance charge.
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  16.4.4 The three disclosures are:

  16.5 Fixed credit, lines of credit and credit cards in Canada

  16.5.1 In Canada, federal requirements regarding advertising credit vary depending on the product. Advertisers should consult the Cost of Borrowing Regulations set out in the Trust and Loan Companies Act, Bank Act and Cooperative Credit Associations Act for specific requirements concerning disclosure, terminology and layout conditions. These regulations cover forms of closed-end credit, such as fixed credit loans for an automobile, as well as open-end credit, including credit cards and lines of credit.

  16.6 “Easy credit”

  16.6.1 The terms “easy credit,” “easy credit terms,” “liberal credit terms,” “easy pay plan” and other similar phrases must be used only when:

  Consumer credit is also extended to consumers whose ability to pay or credit rating is below typical standards of credit worthiness;

  The finance charges and annual percentage rate do not appreciably exceed those charged to consumers who meet generally accepted standards of credit worthiness; and

  The consumer is dealt with fairly on all conditions of the transaction, including the amount of the down payment, the period of repayment and the consequences of a delayed or missed payment.

  16.7   “No credit rejected”

  16.7.1 The words “no credit rejected,” “guaranteed financing,” “all credit applications accepted” or words of similar import can imply that consumer credit will be extended to anyone regardless of the consumer's credit worthiness or financial ability to pay. They must only be used when all credit requests are approved.

   

• The amount or percentage of the down payment;
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• The terms of repayment; and
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• The “annual percentage rate,” using that term spelled out in full or the abbreviation “APR.” If the rate may be increased after consummation of the credit transaction, that fact must be disclosed.
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We contacted the firm regarding the specific advertising below.

1. 1.  We welcome all credit grades, and all levels of income.
2.  

To date the issue has not been resolved.