mortgage lending laws

Mortgage lending laws are regulations designed to protect borrowers and ensure fair practices in the mortgage industry. They govern how lenders must disclose loan terms, assess a borrower’s ability to repay, and handle issues like discrimination and predatory lending. Key laws include the Truth in Lending Act, which mandates clear information about loan costs, and the Equal Credit Opportunity Act, which prohibits discrimination based on race, gender, or other factors. Overall, these laws aim to promote transparency, fairness, and accountability in securing home loans.