Bank Secrecy Act (BSA): Federal law requiring financial institutions to assist government agencies in detecting and preventing money laundering, particularly relevant for explaining large deposits
Anti-Money Laundering (AML) Regulations: Regulatory framework to prevent conversion of illegal funds into legitimate assets, crucial for documenting source of large deposits
USA PATRIOT Act: Legislation requiring verification of customer identity and source of funds for significant financial transactions
Federal Reserve Regulation Z: Truth in Lending Act implementation, governing disclosure requirements in lending transactions
Dodd-Frank Wall Street Reform: Comprehensive financial reform legislation affecting mortgage lending practices and documentation requirements
Real Estate Settlement Procedures Act (RESPA): Federal law requiring disclosure of all settlement charges and real estate transactions
HUD Guidelines: Housing and Urban Development requirements for mortgage transactions and documentation
FHA Requirements: Federal Housing Administration specific guidelines for loans and associated documentation
IRS Gift Tax Regulations: Tax requirements and documentation needs for gifts used as mortgage deposits
IRS Form 8300 Requirements: Reporting requirements for cash transactions exceeding $10,000
State Banking Regulations: State-specific requirements for banking transactions and mortgage lending
Fair Credit Reporting Act (FCRA): Federal law governing the collection and use of consumer credit information in lending decisions
Equal Credit Opportunity Act (ECOA): Federal law prohibiting discrimination in credit transactions, including mortgage lending
