Truth in Lending Act (TILA) and Regulation Z: Federal law that requires lenders to provide standardized disclosures about loan terms and costs, protecting consumers in credit transactions involving their home
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 prohibiting discrimination in credit transactions based on race, color, religion, national origin, sex, marital status, age, or public assistance status
Fair Housing Act: Federal law prohibiting discrimination in residential real estate transactions based on protected characteristics
CFPB Regulations: Regulatory framework established by the Consumer Financial Protection Bureau overseeing consumer financial products and services
State Usury Laws: State-specific regulations limiting the maximum interest rates and fees that can be charged in financial transactions
State Property Laws: State-specific regulations governing real property rights, transfers, and encumbrances
State Consumer Protection Laws: State-specific regulations protecting consumers from unfair or deceptive practices in financial transactions
State Licensing Requirements: State-specific regulations requiring licensing for equity purchasers and other parties involved in home equity transactions
Dodd-Frank Act: Federal law implementing comprehensive financial reform, including provisions affecting residential mortgage transactions
Home Ownership and Equity Protection Act (HOEPA): Federal law providing additional disclosure requirements and restrictions for high-cost mortgage loans
State Foreclosure Laws: State-specific regulations governing the process and requirements for foreclosure proceedings
Securities Laws: Federal and state regulations that may apply if the home equity agreement is structured as an investment product
Disclosure Requirements: Mandatory federal and state requirements for disclosing terms, conditions, and risks associated with home equity agreements
Right of Rescission Rules: Regulations providing consumers with the right to cancel certain home equity transactions within a specified timeframe
