Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about loan terms and costs, protecting consumers in credit transactions including mortgage loans
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): Prohibits discrimination in lending based on race, color, religion, national origin, sex, marital status, age, or participation in public assistance programs
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 loan applications, approvals, and denials
Dodd-Frank Wall Street Reform Act: Comprehensive financial reform legislation that introduced new mortgage lending requirements and created the Consumer Financial Protection Bureau
State Usury Laws: State-specific regulations that set maximum interest rates and govern lending practices within individual states
TILA-RESPA Integrated Disclosure (TRID): Combined regulation requiring specific loan disclosure forms and timing requirements for mortgage transactions
Qualified Mortgage (QM) Rules: Federal regulations defining standards for mortgage loans that are presumed to comply with ability-to-repay requirements
Ability-to-Repay (ATR) Requirements: Federal rules requiring lenders to verify borrower's financial information and ability to repay the mortgage before approval
