Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about loan terms and costs, protecting consumers in credit transactions including owner-financed mortgages
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
Dodd-Frank Wall Street Reform: Federal legislation that includes provisions affecting owner-financing, particularly regarding loan origination and servicing standards
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 program participation
Fair Housing Act: Federal law prohibiting discrimination in real estate transactions, including financing, based on protected characteristics
State Usury Laws: State-specific regulations that set maximum legal interest rates for loans and mortgages
State Mortgage Regulations: State-specific rules governing mortgage creation, terms, and enforcement, including licensing requirements for seller-financing
State Recording Requirements: State-specific rules for properly recording mortgage documents with local authorities
State Disclosure Requirements: State-mandated disclosures that must be provided to borrowers in mortgage transactions
State Contract Laws: General contract law principles governing formation and enforcement of contracts in the specific state
Local Recording Requirements: County or municipal requirements for recording real estate documents and mortgages
Property Tax Regulations: Rules governing property tax assessment, collection, and allocation between parties in a mortgage transaction
Insurance Requirements: Mandatory insurance coverage requirements for mortgaged properties
Due-on-Sale Clause Regulations: Rules governing the enforcement of due-on-sale clauses in owner-financing situations
Foreclosure Laws: State-specific procedures and requirements for foreclosure in case of default on the mortgage
