Code of Ethics
Mortgage Consumer Advocates (MCA) is a Texas Non-Profit Corporation dedicated to giving consumers, educators and media up to date information and protection regarding mortgage loans and lending. MCA is also a consumer advocacy group here to help protect you from unscrupulous lenders and brokers. Because of this, MCA wants to maintain the highest ethical standards for itself with consumers. Here is our ethical statement and promise to you:
- MCA is not and never will be a mortgage lender or broker, so we can be totally independent and look after your best interest.
- No MCA consultant will ever solicit you for any mortgage loan product.
- MCA will always seek your best interest for any recommendations offered regarding a mortgage loan you are seeking.
- MCA will assist you with any disputes you may have with a lender or mortgage broker by providing the forms and contact information necessary to assist you.
- MCA will keep our information up to date, so you can use this information to assist your needs.
- MCA will help you in any dispute; if you ever have a problem with a lender who has agreed to our Lender’s Code of Ethics and is used by you.
- MCA will provide you with resources from government regulatory agencies to file a complaint if any lender deals unfairly with you.
We want only the best for you, and want to be totally independent so we can better serve you.
Sincerely,
Howard Wayland Jr.
Executive Director
Lenders Code of Ethics
Mortgage Consumer Advocates and MortgageChampions.org strive to protect and educate consumers. We feel a well informed, well prepared borrower will be difficult to take advantage of. To this end, any Lender, Broker, or Banker that is MSA member or linked to on MortgageChampions.org has agreed to the MCA Lender Code of Ethics. If you find or experience an MCA member that does not honor this code please email their information and your complaint to: consumercomplaints@mortgagechampions.org
Mortgage Consumer Advocates (MCA) is a Texas Non-Profit Corporation dedicated to giving consumer’s information and protection regarding mortgage loans and lending. MCA is a consumer advocacy group created to help protect consumers from unscrupulous lenders and brokers. Because of this, MCA wants Lenders who desire to become a member of our organization to maintain the highest ethical standards. Here is the code of ethics you must agree to for acceptance by MCA as a lender listed by us. Here is the ethical statement and promises you agree to make:
- You and your company’s representatives agree to be fair to all consumers on any loan that is offered, processed or loaned to a consumer.
- You and your company’s representatives will abide both to the spirit and actual law regarding The Fair Housing Act, Equal Credit Opportunity Act, Predatory Lending Laws, and other state and federal laws as they pertain to any mortgage loan the Lender originates.
- You and your company’s representatives will never discriminate against any borrower or potential borrower based upon: sex, religion, gender, marital status, ethnicity, race, age or sexual orientation. This includes the products you offer to any consumer as well as approving the consumer for any loan. In other words, you agree to offer all consumers the best products you have.
- You agree to provide a direct company representative for MCA to call to in the case of any dispute with a company representative.
- You will not raise your fees on any loan that differs from the original loan disclosures.
- You will offer the consumer the option to lock in the interest rate for at least 30 days on your loan offerings.
- On loans where the interest rate goes down during the origination stage, you agree to give the consumer the lower interest rate on loans not locked in previously.
- You and your company’s representatives agree NOT to act in a predatory way with any consumer.
MCA offers a product to protect you against potential mortgage fraud and over-charging. It is called the Consumer Protection Plan. A Mortgage Professional will review your initial mortgage disclosure documentation and when the loan is ready to close the MCA professional will also review your closing settlement documents to make sure you received the correct program, rate and fees as initially disclosed.
