Federal officials and various states are keeping a closer eye on ads promising low payments as the Federal Reserve tightens credit while borrowers fall behind in their payments, The New York Times said Saturday.

Consumer advocates warn advertising can steer borrowers toward increasingly risky loans that offer easy payments early on but balloon sharply down the road.

Internet advertising alone by mortgage companies reached $378 million in the first half of 2007, The Times said, and has topped $3 billion for all media since 2000.