HUD
• Fair
Housing Act
• S.A.F.E. Act
• Public Housing
• Predatory
Lending
• HOPE Act
• HERA Impact
• AIR
FHFA
•
HERA Impact
• FHLB
• FNMA/FHLMC
• AIR
U.S. Dept of
Homeland Security
•
FEMA
• Flood
Disaster Protection Act
|
Federal Reserve System
FDIC, OCC, DOT,
CFPB
• HERA
Impact
•
Gramm-Leach-Bliley Act
• ECOA – Reg B
• FCRA – Reg V
• CRA – Reg BB
• U.S. Patriot
Act
• Unfair or
Deceptive Acts or Practices – Reg AA -- CFPB
• Predatory
Lending
• Loans to
Insiders – Reg O
• RESPA –
Reg X
• TILA – Reg Z –
MDIA, HOEPA, HPML
• Mortgage
Servicing
•
Appraisals – FIRREA & AIR
• Qualified
Mortgage
• HMDA –
Reg C
• Flood
Disaster Protection Act |
FTC & DOJ
•
ALL
REGs
• Advertising
• HERA Impact
• U.S. Patriot
Act
• OFAC
•
Gramm-Leach-Bliley Act
• FCRA
• CRA – Reg BB
• TILA – Reg Z
• HOEPA – Reg Z
• HPML – Reg Z
• Fair Debt
Collection Practices Act
• Service
members’ Civil Relief Act
• Predatory
Lending
• Loans to
Insiders – Reg O
• Mortgage
Servicing
• Licensing
• AIR
|
States & Other Jurisdictions
•
Predatory Lending Laws
• Licensing
• Banking
• Fair Debt
Collection Practices Act
• Public Housing
• AIR
|
The mortgage regulatory framework is
extraordinarily complicated with a multitude of different
regulations and governmental overseers. While some regulations
are the clear responsibility of one agency or another, many of
these regulations will be enforced and monitored by several
different agencies – this is due in large part to the fact that
non-compliance of one regulation can influence or jeopardize the
performance of other requirements. The mortgage banking industry
today is large and diverse, encompassing a wide range of
financial service firms. The volume of interrelated regulatory
laws and governmental agencies makes mortgage banking one of the
most highly regulated industries in history. Most recently, the
Bureau of Consumer
Financial Protection (CFPB) was established as an independent
bureau of the Federal Reserve System by the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Pub. L. 111-203, 124
Stat. 1376) (Dodd-Frank Act). Rulemaking authority was
transferred to the CFPB by seven different agencies for more
than a dozen federal consumer financial protection laws. The
CFPB is an independent Bureau of the Federal Reserve System
under the Treasury Department. The OTS is no more –
responsibilities were moved to the OCC.
Reprinted with permission from
MortgageCurrentcy.com |