Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed.
Real Estate Settlement Procedures Act (RESPA): Federal law requiring lenders to provide borrowers with disclosures regarding the real estate settlement process and prohibiting kickbacks.
Equal Credit Opportunity Act (ECOA): Federal law prohibiting discrimination in lending based on race, color, religion, national origin, sex, marital status, age, or receipt of public assistance.
Fair Housing Act: Federal law prohibiting discrimination in real estate transactions, including lending, based on protected characteristics.
Dodd-Frank Act: Comprehensive financial reform legislation that includes provisions affecting mortgage lending and consumer protection in financial transactions.
CFPB Regulations: Rules and guidelines set by the Consumer Financial Protection Bureau governing consumer lending practices and disclosures.
State Usury Laws: State-specific regulations that set maximum interest rates and terms for loans to prevent predatory lending practices.
State Licensing Requirements: State-specific regulations requiring lenders to obtain proper licensing and registration to conduct lending business.
State Disclosure Requirements: State-specific rules mandating certain disclosures to borrowers during the loan process.
State Foreclosure Laws: State-specific regulations governing the process and requirements for foreclosure proceedings.
Securities Act of 1933: Federal law governing the registration and regulation of securities offerings, which may apply if the loan is securitized.
Securities Exchange Act of 1934: Federal law regulating secondary market trading and establishing the SEC, relevant if loans are packaged and sold as securities.
Blue Sky Laws: State-specific securities laws regulating the offering and sale of securities to protect investors from fraudulent activities.
Uniform Commercial Code (UCC): Standardized set of laws governing commercial transactions, including secured lending and collection practices.
Recording Requirements: State and local requirements for recording mortgage documents and other loan-related instruments in public records.
Anti-Predatory Lending Laws: Federal and state laws designed to prevent abusive lending practices and protect borrowers from unfair loan terms.
