The Primary Laws Which Regulate the Mortgage Industry are:

• Real Estate Settlement Procedures Act (RESPA) Prohibits cost-increasing abusive practices such as kickbacks and referral fees and requires advance disclosure of settlement service costs
  
• Truth-in-Lending (TILA) - Requires disclosure of the cost of credit to the consumer and the terms of repayment.
  
• Equal Credit Opportunity Act (ECOA) - Prohibits discrimination in lending.
  
• Fair Credit Reporting Act (FCRA) - Stipulates the requirements of users of credit reports and disclosure to consumer.
  
• State Licensing - Forty-five states currently have state licensing requirements for mortgage brokers in addition to ten federal laws and supplemental regulations.