What behavior is considered deceptive practice according to the mortgage regulations?

Claiming unqualified access to credit is considered a deceptive practice according to mortgage regulations because it misleads consumers regarding their actual borrowing capacity. This form of misrepresentation can cause consumers to rely on false information, leading them to engage in loans they may not qualify for. Deceptive practices undermine the integrity of the lending process and can result in significant financial harm to borrowers who act on inaccurate assessments of their creditworthiness.

In contrast, offering promotional interest rates during holidays, providing accurate loan closing information, and requesting necessary documents from borrowers are all legitimate and transparent practices in the lending process. These behaviors contribute to fair lending standards and ensure that consumers are well-informed and supported throughout their financing journey.