Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about terms and costs associated with mortgage lending, including requirements for default notices.
Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes, including requirements for mortgage servicing and loss mitigation procedures during default.
Fair Debt Collection Practices Act (FDCPA): Federal law that regulates debt collection practices, including how default notices must be communicated to borrowers.
Dodd-Frank Act: Federal law that introduced comprehensive financial reform, including enhanced consumer protection measures for mortgage borrowers facing default.
CFPB Regulations: Federal regulatory guidelines established by the Consumer Financial Protection Bureau for mortgage servicing rules and default procedures.
State Foreclosure Laws: State-specific legislation governing the foreclosure process, including required notices and timeframes for default proceedings.
State Notice Requirements: State-specific rules determining the content, format, and delivery methods for mortgage default notices.
State Consumer Protection Laws: State-level legislation protecting consumer rights in mortgage transactions and default situations.
State Mortgage Servicing Regulations: State-specific rules governing how mortgage servicers must handle defaults and communicate with borrowers.
Servicemembers Civil Relief Act: Federal law providing special protections for active-duty military personnel in mortgage default situations.
Bankruptcy Stay Provisions: Federal bankruptcy laws that may affect the timing and validity of default notices if the borrower has filed for bankruptcy.
COVID-19 Protections: Temporary federal and state provisions affecting mortgage default procedures during the COVID-19 pandemic.
Mortgage Contract Terms: Specific default notice requirements contained within the original mortgage agreement between lender and borrower.
