What are some compliance requirements for a mortgage website?

For a mortgage broker’s website, there are several key compliance requirements that must be met to adhere to regulatory standards and avoid potential legal issues. Its very common for these to be overlooked by DIY websites. The average website builder is most likely not familiar the requirements. So if you are building your own website you must be sure these items are done. Theses are not optional.

Here’s a detailed breakdown of some of the needed items:

1. NMLS Licensing Information

Display Your NMLS ID: Your Nationwide Multistate Licensing System (NMLS) number must appear clearly on every page and on any advertising, including social media profiles.

Every licensed Loan Officer or staff member that has an NMLS number must have the number on their bio page.

Link to NMLS Consumer Access: Include a clickable link directing users to www.nmlsconsumeraccess.org for verification in the footer.

2. Equal Housing Opportunity

Fair Housing Logo: Prominently feature the Equal Housing Opportunity logo

3. Privacy Policy

Clearly state how you collect, store, protect, and share customer information.

Address compliance with the Gramm-Leach-Bliley Act (GLBA), ensuring customers understand privacy rights regarding their financial data.

4. Fair Lending Compliance

Clearly state your adherence to fair lending laws and regulations, including ECOA (Equal Credit Opportunity Act).

Avoid any language implying discrimination or exclusion based on race, color, religion, national origin, sex, marital status, age, or any protected class.

5. Advertising Disclosures (Regulation Z – Truth in Lending Act)

Clearly disclose terms when advertising mortgage loan products, especially when specific terms or conditions are presented (interest rates, APR, etc.).

Include required disclosures clearly, such as:

• APR (Annual Percentage Rate)
• Loan product disclaimers
• Terms and conditions of advertised offers (if applicable)

6. Clear and Conspicuous Disclosures (UDAAP)

Avoid unfair, deceptive, or abusive acts and practices (UDAAP).

Clearly and transparently state terms, avoiding vague language or promises (e.g., do not claim “best rates” or misleading terms). We see this one a lot!

7. Accessibility (ADA Compliance)

Ensure your website meets accessibility standards under the Americans with Disabilities Act (ADA), typically following Web Content Accessibility Guidelines (WCAG 2.1).

Consider implementing tools or statements addressing accessibility.

I have seen lawsuits for $7 – $9K for missing this one.

8. State-Specific Requirements

Depending on your location, you may need state-specific disclosures (e.g., California Department of Real Estate License, Texas SML disclosures, etc.).

Confirm local laws to ensure complete compliance.

9. Terms of Use

Clearly outline website terms of use and limitations of liability, explicitly stating the purpose and limitations of your services. (there are plenty of online resources to help you write one.)

10. Secure and Encrypted Site (Cybersecurity)

Employ SSL certificates (HTTPS) to secure user data and protect personal information.

 

These are just the major ones, many states have more requirements. Check at the state level to make sure you are compliant.

It also never hurts to consider having a compliance officer or legal advisor periodically review your website to confirm continued compliance.