A statement prepared by the lender itemizing loan costs and terms as required for RESPA related transactions
Interstate Land Sales Full Disclosure Act
A Federal Law that protects consumers from fraud and abuse in the sale or lease of land.
Equal Credit Opportunity Act (ECOA)
Federal Law that prohibits discrimination in granting credit to people based on sex, age, marital status, race, color, religion, national origin, or receipt of public assistance.
Group Home
A residential property where a small number of unrelated people in need of care, support, or supervision can live together
Truth in the Lending Act (Regulation Z)
Federal Law requiring disclosure of the terms of the credit by a creditor to a prospective borrower.
Steering
Channeling prospective buyers or tenants to particular neighborhoods based on race, religion, nation origin, ancestry, or other legally protected class.
Loan Estimate
A lender disclosure containing a "good faith estimate" of closing costs, loan terms, and the cost that the borrower must pay for a real estate loan, including the APR.
Fair Credit Reporting Act (FCRA)
A Federal Law that regulates the collection of consumers credit information and access to their credit reports
Real Estate Settlement and Procedures Act (RESPA)
Federal law dealing with real estate closings that provides specific procedures and guidelines for the disclosure of settlement costs.
Handicap/Disability
A physical or mental impairment that substantially limits or curtails one or more major life activities.
