FEDERAL LENDING LAWS AND REGULATIONS

FEDERAL LENDING LAWS AND REGULATIONS

	Covered Applicants And /Or Borrowers	Covered Loans	Lien Triggers	Collateral Triggers	Business Purpose Loans	Exceptions
Truth-In-Lending Regulation Z (General)	Consumer applicants and borrowers	Primarily for personal, family, or household purposes	None	None	Not covered	Loans greater than $25,000 if not secured by real estate
Truth-In-Lending Regulation Z (Right Of Rescission)	Consumer applicants and borrowers	Primarily for personal, family, or household purposes	Security interest taken in principal dwelling	Principal dwelling	Not covered	Residential mortgage transactions (generally purchase money loan)
RESPA Regulation X (General)	Individual applicants and borrowers	Non-business—one exception (see, §3500.5(b)(2) )	Real estate mortgage or trust deed	Real estate with a 1-4 family dwelling	Not covered unless individual acquires, maintains, or improves rental property	Several (see, §3500.5(b)(1) through (7))
RESPA Regulation X (Mortgage Service Transfers)	Individual applicants and borrowers	Non-business—one exception (see, §3500.5(b)(2))	First lien on real estate	Real estate with a 1-4 family dwelling	Not covered unless individual acquires, maintains, or improves rental property	Several (see, §3500.5(b)(1) through (7)
Flood Hazard Insurance	All applicants and borrowers	All—make, increase, renew, or extend credit	Mortgage/Trust Deed on real estate or affixed mobile home	Improved real estate	Covered	Loans less than $5,000 for 1 year or less or self-insured, state-owned property
Equal Credit Opportunity Act Regulation B	All applicants and borrowers	All extensions, renewals, or continuations of credit	None	None	Covered	Specifically defined inquiries and credit assistance programs
Fair Housing Act	Natural persons who are applicants or borrowers	Primarily home purchase, or refinancing	Security interest in owner-occupied dwelling	“Dwelling” as defined by act (narrow)	Not covered	Loans not meeting act’s definitions
Home Mortgage Disclosure Act Regulation C	All applicants and borrowers	Home purchase, home improvement, or refinancing of home	For home purchase or refinancing of home, security interest in dwelling—none for home improvement	“Dwelling” as defined by act (broad)	Not Covered unless involves home purchase, home improvement or refinancing of home	Construction loans and other temporary loans
Appraisal Regulations	All applicants and borrowers	All	Mortgage or trust deed on or interest in real estate	Real estate or a real estate interest	Covered	Several

NOTE: Charts serve as summaries and quick references to certain regulatory requirements, but should only be used in consultation with the actual regulations for further details.