Some things don't change

It seems that some companies in the mortgage lending / brokerage industry that helped bring us the 2008 financial crash are pursuing business as usual, according to the federal agency responsible for preventing mortgage fraud.  While the article headline asserts the Feds are getting tough on scammers, the reality is that it may take years to prosecute them and most are never convicted of anything serious and may just get a fine.  They then just change their company name and go right back to scamming.

From the article - "The feds warned the mortgage industry on Monday that potentially false or misleading advertisements will not be tolerated. The Consumer Financial Protection Bureau and the Federal Trade Commission announced that they have issued a total of 32 warning letters to mortgage lenders and mortgage brokers to clean up their ads. They have also opened 19 formal investigations into companies that may have committed more serious violations of law."

The range of offenses are familiar, I think I've seen them all in promotions I've received in the mail or online. 

• Advertisements offering a very low “fixed” mortgage rate, without discussing significant loan terms.
• Advertisements containing statements, images, symbols, and abbreviations suggesting that an advertiser is affiliated with a government agency.
• Advertisements “guaranteeing” approval and offering very low monthly payments, without discussing significant conditions on these offers.  

These guys just never quit here are some links from the FTC.
Examples are illustrated in these “mock ads".