Truth in Lending Act (TILA) and Regulation Z: Federal law requiring lenders to provide standardized disclosures about loan terms and costs, ensuring consumers can make informed decisions about credit transactions.
Real Estate Settlement Procedures Act (RESPA): Federal law requiring lenders to provide borrowers with disclosures about real estate settlement costs and prohibiting kickbacks in real estate transactions.
Equal Credit Opportunity Act (ECOA): Prohibits discrimination in lending based on race, color, religion, national origin, sex, marital status, age, or receipt of public assistance.
Fair Housing Act: Prohibits discrimination in residential real estate transactions, including mortgage lending, based on protected characteristics.
Home Mortgage Disclosure Act (HMDA): Requires financial institutions to maintain and report data about home lending to ensure fair lending practices.
Dodd-Frank Wall Street Reform Act: Comprehensive financial reform law that established new mortgage lending standards and created the Consumer Financial Protection Bureau.
State Usury Laws: State-specific regulations that set maximum interest rates and fees that lenders can charge on mortgage loans.
TILA-RESPA Integrated Disclosure (TRID): CFPB rules requiring specific disclosure forms and timing requirements for mortgage transactions.
Qualified Mortgage (QM) Rules: CFPB regulations defining standards for mortgage loans that are presumed to comply with ability-to-repay requirements.
Ability-to-Repay (ATR) Requirements: Regulations requiring lenders to verify borrower's financial information and ensure they can afford the mortgage payments.
Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain their information-sharing practices and protect sensitive customer data.
State Consumer Protection Laws: State-specific regulations designed to protect consumers from unfair or deceptive lending practices in mortgage transactions.
Federal Reserve Board Regulations: Guidelines and requirements set by the Federal Reserve affecting mortgage lending practices and standards.
HUD Guidelines: Department of Housing and Urban Development requirements affecting mortgage lending, particularly for FHA-insured loans.
GSE Requirements: Standards set by Fannie Mae and Freddie Mac that affect conforming mortgages and related lending practices.
