Truth in Lending Act (TILA): Federal law that requires clear disclosure of lending terms and costs to protect consumers in credit transactions, including real estate purchases.
Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes, requiring disclosure of settlement costs and prohibiting kickbacks in real estate transactions.
Equal Credit Opportunity Act (ECOA): Federal law that prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or public assistance program participation.
Federal Fair Housing Act: Law prohibiting discrimination in residential real estate transactions based on protected characteristics.
Bank Secrecy Act (BSA): Federal law requiring financial institutions to assist government agencies in detecting and preventing money laundering in real estate transactions.
UCC Article 5: Uniform Commercial Code article governing letters of credit and bank guarantees, providing framework for banking instruments in property transactions.
State Property Laws: State-specific regulations governing real estate transactions, property rights, and transfer of property ownership.
State Banking Regulations: State-level rules governing banking operations and financial instruments within the state jurisdiction.
State Real Estate Requirements: State-specific procedures and requirements for real estate transactions, including documentation and recording requirements.
State Consumer Protection Laws: State laws designed to protect consumers in financial and real estate transactions from unfair or deceptive practices.
Federal Reserve Board Regulations: Banking regulations issued by the Federal Reserve that affect bank guarantees and real estate financing.
OCC Guidelines: Office of the Comptroller of the Currency guidelines governing national banks and their real estate-related activities.
FDIC Requirements: Federal Deposit Insurance Corporation rules affecting bank operations and real estate-related financial instruments.
CFPB Regulations: Consumer Financial Protection Bureau rules protecting consumers in financial transactions, including real estate purchases.
AML Regulations: Anti-Money Laundering regulations requiring banks to verify source of funds and prevent illegal financial activities in property transactions.
KYC Requirements: Know Your Customer protocols requiring banks to verify the identity and suitability of clients in financial transactions.
Local Zoning Laws: Municipal and local regulations affecting property use and development.
Recording Requirements: Local and state requirements for recording real estate transactions and related documents in public records.
