According to MSNBC, the FTC is investigating the legality of some mortgage ads. Here’s the heart of it:

Some marketing pitches rely heavily on the financial benefits of these products. But emphasizing only the advantages of a loan is unacceptable, according to Lucy Morris, an FTC attorney working on the deceptive ads investigation.

“If they’re only telling you half the truth and only telling you the good things and not telling you the other important things you need to know in evaluating a mortgage advertisement, then that may raise questions under the Federal Trade Commission Act and the Truth in Lending Act, which we enforce.”

Looks like the Sub-Prime vultures are getting what they deserve, on a number of fronts.

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