Truth in Lending Act (TILA): Federal law requiring lenders to provide standardized disclosures about loan terms and costs, ensuring borrowers understand their mortgage obligations.
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.
Home Ownership and Equity Protection Act (HOEPA): Federal law providing additional disclosure requirements and restrictions for high-cost mortgage loans to protect consumers from predatory lending practices.
Equal Credit Opportunity Act (ECOA): Federal law prohibiting discrimination in lending based on race, color, religion, national origin, sex, marital status, age, or public assistance program participation.
Fair Housing Act: Federal law prohibiting discrimination in residential real estate transactions, including mortgage lending, based on protected characteristics.
Dodd-Frank Wall Street Reform: Federal law establishing additional consumer protections in mortgage lending and creating the Consumer Financial Protection Bureau (CFPB).
State Property Laws: State-specific laws governing real property rights, transfers, and encumbrances, varying by jurisdiction.
State Recording Requirements: State-specific rules for recording mortgage documents in public records, including format and content requirements.
State Foreclosure Laws: State-specific procedures and requirements for foreclosure processes, including judicial vs. non-judicial foreclosure options.
State Mortgage Lending Regulations: State-specific rules governing mortgage lending practices, licensing requirements, and consumer protections.
State Usury Laws: State-specific limitations on interest rates and loan charges that can be imposed on mortgage loans.
Local County Recording Requirements: County-specific rules and procedures for recording mortgage documents, including formatting and submission requirements.
Homestead Laws: State-specific protections for primary residences, affecting how mortgages can be enforced against homestead property.
Community Property Laws: Special property ownership rules in community property states affecting how mortgages must be structured for married couples.
Mortgage Licensing Requirements: State and federal requirements for licensing of mortgage lenders, brokers, and other professionals involved in mortgage transactions.
Consumer Protection Laws: Additional state and federal laws protecting consumers in mortgage transactions, including disclosure requirements and anti-fraud provisions.
