1. Loan Application Process
Ensuring that the lender follows all legal and regulatory requirements when processing loan applications, including verifying borrower information, income, and employment.
2. Disclosure Requirements
Making sure that all required disclosures are provided to the borrower, such as the Loan Estimate and Closing Disclosure, and that they are provided in a timely and accurate manner.
3. Advertising Compliance
Ensuring that all advertising and marketing materials comply with applicable laws and regulations, such as the Truth in Lending Act (TILA) and the Fair Housing Act (FHA).
4. Interest Rate and Fees
Making sure that the interest rate and fees charged to the borrower are consistent with applicable laws and regulations, and that they are disclosed to the borrower.
5. Property Appraisal
Ensuring that the property is properly appraised by a qualified appraiser and that the appraisal meets all regulatory requirements.
6. Servicing Requirements
Making sure that the lender follows all legal and regulatory requirements when servicing the loan, including providing accurate and timely information to the borrower and complying with loss mitigation requirements.
7. Privacy Requirements
Ensuring that the lender follows all applicable privacy laws and regulations, such as the Gramm-Leach-Bliley Act (GLBA) and the Fair Credit Reporting Act (FCRA).
8. Anti-Discrimination Laws
Making sure that the lender complies with all anti-discrimination laws and regulations, such as the FHA and the Equal Credit Opportunity Act (ECOA).
9. State and Local Requirements
Ensuring that the lender follows all state and local laws and regulations that apply to mortgage lending, including licensing requirements and consumer protection laws.
