Consumer Protection

Required upfront disclosures - The following upfront disclosures must be made by the mortgage assistance relief service provider relating to the services to be performed:

• The total cost of the services
• A note that the consumer may stop using the mortgage relief services at any time without penalty
• That the mortgage relief service provider is not associated with the government or their lender, and
• That the consumer's lender may not agree to change the terms of the mortgage.

Upfront fees are prohibited - Upfront fees are prohibited. Fees may be collected for mortgage relief services only after a written offer of relief from the customer's lender or loan servicer (that the MARS rule provider obtained) has been received and the offer is accepted by the customer.

Notice regarding consequences of not making further mortgage payments - Some mortgage relief service providers may advise their clients to stop making further mortgage payments. Any mortgage assistance relief services provider rendering such advice must clearly and prominently disclose the negative consequences that may result such as damage to credit or loss of their home.

Advice to stop communicating with lender or service provider is prohibited- A mortgage relief service provider is prohibited from advising their clients to stop communicating with their lender or loan servicer.

Offers of mortgage relief from a lender or loan servicer - If an offer of relief is obtained by the mortgage relief service provider, a written notice must be sent to the client clearly describing all material differences between the terms of the lender or loan servicer offer and the client's current loan terms. The client is also to be advised that if the offer is not acceptable, they don't have to accept it or pay a fee for services rendered by the mortgage relief service provider.

Misrepresentation of services - A mortgage assistance relief provider may not make any false, misleading, or unsubstantiated claims about their services. If any claims about the benefit of the services are made, the claims about such benefits, performance or effectiveness of the services to be rendered must be truthful and must be backed up by reliable and verifiable evidence.