Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about loan terms and costs, ensuring borrowers understand their mortgage obligations
Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes, requiring specific disclosures and protecting consumers from abusive practices in the real estate settlement process
Dodd-Frank Wall Street Reform: Comprehensive financial reform law that introduced new mortgage lending requirements and created the Consumer Financial Protection Bureau
Equal Credit Opportunity Act (ECOA): Federal law prohibiting discrimination in lending 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, including mortgage lending
State Mortgage Regulations: State-specific laws governing mortgage lending practices, including licensing requirements and consumer protections
State Usury Laws: State-specific regulations setting maximum interest rates and governing fee structures for mortgage loans
State Disclosure Requirements: State-mandated disclosures that must be provided to borrowers during the mortgage process
State Foreclosure Laws: State-specific regulations governing the foreclosure process and borrower rights
CFPB Guidelines: Regulatory guidelines from the Consumer Financial Protection Bureau regarding mortgage servicing and consumer protection
HUD Regulations: Department of Housing and Urban Development rules governing various aspects of residential mortgage lending
FHA Requirements: Federal Housing Administration specific requirements for FHA-insured mortgages
VA Loan Requirements: Department of Veterans Affairs specific requirements for VA-guaranteed mortgages
Payment Calculation Requirements: Regulatory requirements for calculating and disclosing mortgage payment amounts, including principal, interest, taxes, and insurance
Grace Period Regulations: Legal requirements regarding payment grace periods and late payment notifications
Late Fee Restrictions: Federal and state regulations governing the assessment and amount of late payment fees
Escrow Requirements: Rules governing the establishment and maintenance of escrow accounts for taxes and insurance
PMI Disclosure Requirements: Regulations requiring specific disclosures regarding Private Mortgage Insurance terms and conditions
Payment Application Hierarchy: Rules governing how payments must be applied to principal, interest, escrow, and other charges
