Mortgage Procedure Guide to Federal and State Compliance
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The most significant area of risk in the mortgage banking industry is compliance liability. Lenders must understand and comply with a myriad of federal and state laws and regulations governing loan negotiation, origination, and servicing. With the
The manual is written for those who work at the policy and compliance level — the chief operating officer, the director of compliance, the director of quality control, the director of risk management, the director of secondary market, and the chief privacy officer or head of security.
This manual is designed to help lenders hedge compliance risk. It helps you identify the compliance re-quirements in complex consumer protection laws at the federal and state level. The
• Part 1 gets you started on developing policies and procedures for your company.
• Part 2 addresses federal compliance issues.
• Part 3 addresses federal compliance procedures.
• Part 4 addresses state compliance procedures.
The eBook versions of this title feature links to Lexis Advance for further legal research options.
Table of Contents
Part 1: Writing Your Manual
Chapter 1 Developing Your Policies and Procedures Manual
Part 2: Federal Compliance
Chapter 2 Truth-in-Lending/Regulation Z and Nontraditional Mortgage Guidance
Chapter 3 Real Estate Settlement Procedures Act and Regulation X
Chapter 4 Fair Lending — Fair Housing Act and Equal Credit Opportunity Act
Chapter 5 Home Mortgage Disclosure Act/Regulation C
Chapter 6 National Flood Insurance Program
Chapter 7 Gramm-Leach-Bliley Act
Chapter 8 Fair Credit Reporting Act
Chapter 9 USA PATRIOT Act
Chapter 10 Alternative Mortgage Transaction Parity Act and Federal Preemption
Chapter 11 Laws on Lender Advertising
Chapter 11A The SAFE Act
Part 3: Federal Procedures
Chapter 12 Federal Consumer Disclosure Requirements
Chapter 13 Early Loan Disclosures
Chapter 14 Finance Charge Procedures
Chapter 15 Notice of Action Taken
Chapter 16 Notice of Right to Cancel
Chapter 17 Capturing the Required Loan Application Register Data
Part 4: State Compliance and Procedures
Chapter 18 State Licensing Requirements for Residential Mortgage Loan Brokers, Lenders, and Services
Chapter 19 State Books and Records Requirements
Chapter 20 State Laws on Late Fees Charged with Residential Mortgage Loans
Chapter 21 State Laws on Prepayment Penalties and High-Cost Home Loans
Chapter 22 Marital Rights and Signature Requirements
Chapter 23 Trustee Restrictions and Requirements
Chapter 24 Closing Practices — Wet Settlement or Good Funds
Chapter 25 Escrow (Impound) Account Requirements
Chapter 26 State Advertising Requirements on Residential Mortgage Loans
Chapter 27 State Predatory Lending Laws
Chapter 27A Multistate Developments on Nontraditional and Subprime Product Risks
Chapter 28 Home Equity Line of Credit/Revolving Credit Line Fees