What is a Mortgage Regulator?
The Federal Government regulates the Mortgage Industry through a number of Acts passed by Congress. Mortgage lenders must follow rules set by the Federal government to ensure borrowers are treated fairly and equitably by the lenders.
Following is a list of State Regulators:
Alabama State Banking Department (334) 242-3585 http://www.bank.state.al.us
Alaska State Revenue Department (907) 465-2300 http://www.revenue.state.ak.us
Arizona State Banking Department (602) 255-4421 http://www.azbanking.com
Arkansas State Bank Department (501) 324-9028 http://www.state.ar.us/bank/
California State Department of Financial Institutions (415) 263-8507 http://www.dfi.ca.gov/
Colorado State Housing and Finance Agency (303) 297-2432 http://www.colohfa.org
Colorado State Uniform Consumer Credit Code Office (303) 866-4494 http://www.ago.state.co.us/UCCCHOME.htm
Connecticut State Banking Department (860) 240-8299 http://www.state.ct.us/dob/
Delaware State Finance Department (302) 577-8979 http://www.state.de.us/finance/index.htm
District of Columbia Housing Finance Agency (202) 777-1600 http://www.dchfa.org
Florida State Department of Banking and Finance (850) 410-9286 http://www.dbf.state.fl.us
Georgia State Banking and Finance Department (770) 986-1633 http://www.state.ga.us/dbf
Hawaii State Budget and Finance Department (808) 586-1518 http://www.state.hi.us/budget/
Idaho State Finance Department (208) 332-8000 http://www2.state.id.us/finance/dof.htm
Illinois State Office of Banks and Real Estate (217) 782-3000 http://www.obre.state.il.us
Indiana State Financial Institutions Department (317) 232-3955 http://www.in.gov/dfi/
Iowa State Revenue and Finance Department (515) 281-3135 http://www.state.ia.us/tax/
Kansas State Office of the State Bank Commissioner (785) 296-2266 http://www.osbckansas.org
Kentucky State Finance and Administration Cabinet (502) 564-4240 http://www.state.ky.us/agencies/finance/
Louisiana State Housing Finance Agency (225) 342-1320 http://www.lhfa.state.la.us/
Maine Office of Consumer Credit Regulation under the Bureau of Banking (207) 626-8527 http://www.mainehousing.org
Maryland State Housing and Community Development Department (800) 756-0119 http://www.dhcd.state.md.us/
Massachusetts Division of Banks (617) 956-1500 http://www.state.ma.us/dob/
Michigan Office of Financial and Insurance Services (517) 373-3470 http://www.cis.state.mi.us/ofis/
Minnesota State Housing Finance Agency (651) 296-7608 http://www.mhfa.state.mn.us/
Mississippi State Finance and Administration Department (601) 359-3402 http://www.dfa.state.ms.us/
Missouri State Housing Development Commission (816) 759-6600 http://www.mhdc.com
Montana State Commerce Department, Banking & Financial Institutions Division (406) 444-2091 http://commerce.state.mt.us
Nebraska State Banking and Finance Department (402) 471-2171 http://www.ndbf.org/
Nevada State Business and Industry Department (775) 486-7220 http://www.state.nv.us/b&i/
New Hampshire State Banking Department (603) 271-3561 http://www.state.nh.us/banking/
New Jersey State Banking and Insurance Department (609) 292-5360 http://www.state.nj.us/dobi/NJHOMEPG.HTML
New Mexico State Finance and Administration Department (505) 827-4985 http://www.state.nm.us/clients/dfa/index.html
New York State Banking Department (212) 618-6642 http://www.banking.state.ny.us/
North Carolina Commissioner of Banks (919) 733-3016 http://www.banking.state.nc.us
North Dakota State Banking and Financial Institutions Department (701) 328-9933 http://www.state.nd.us/dfi/
Ohio Department of Commerce, Division of Financial Institutions (614) 728-8400 http://www.com.state.oh.us/dfi/
Oklahoma State Banking Department (405) 521-2782 http://www.state.ok.us/~osbd/
Oregon State Housing and Community Services Department (503) 986-2000 http://www.hcs.state.or.us
Pennsylvania State Banking Department (717) 787-2665 http://www.banking.state.pa.us
Puerto Rico State Office of the Financial Institutions Commissioner (787) 723-3131 http://www.cif.gov.pr
Rhode Island State Business Regulation Department (401) 222-2246 http://www.dbr.state.ri.us
South Carolina Department of Consumer Affairs 803) 734-2000 http://www.state.sc.us/consumer
West Virginia State Tax and Revenue Department, Banking Commission (304) 558-2294 http://www.wvdob.org/
Wisconsin State Financial Institutions Department (608) 266-1622 http://www.wdfi.org
Wyoming State Revenue Department (307) 777-7961 http://www.state.wy.us/business.html
Related Topics: What is the Authority of state regulator (e.g., audit)? What are its Responsibilities and limitations What are Permissible acts? What is the Timeline for submitting books and records to a state regulator? What is the Record retention? Retention of information after a solicitation • Mortgage Acts and Practices – Advertising, 12 CFR Part 1014 (Regulation N) What are Record retention time frames? What are Record retention timelines? What is SAFE Act and CSBS/ARRMR Model State Law ? What are the Limitations on broker fees? What is the Equal Credit Opportunity Act (ECOA), 12 CFR Part 1002 (Regulation B)? What is the Gramm-Leach Bailey Act? What are Prohibited Acts? Explain the consequences of Violations of Gramm-Leach Bliley Act What are the Facts about Suspicious Activity Reports (SARs) ? What are the Required ESIGN disclosures? What are General permissible acts under the Equal Credit Opportunity Act? Explain Information provided by the borrower regarding the right of refusal • Fair Credit Reporting Act (FCRA)/Fair and Accurate Credit Transactions Act (FACTA) 15 USC § 1681 et seq. Explain Permissible acts of MLOs regarding the appraisal of a client’s property, Scenarios surrounding situations with borrower’s undisclosed income, Permissible acts after discovering deposits inconsistent with borrower’s income included on application, Scenarios involving a gift received by the borrower, What is Real Estate Settlement Procedures Act (RESPA), 12 CFR Part 1024 (Regulation X) What Documents must be provided to a borrower at loan consummation • Dodd-Frank Act ? What are the Ways to verify a borrower’s identity • USA PATRIOT Act? What is the core concepts of the Truth-in-Lending Act? What is the Equal Credit Opportunity Act (ECOA), 12 CFR Part 1002 (Regulation B)? What is the Enforcement authority for “red flag” rules • Bank Secrecy Act/Anti-Money Laundering (BSA/AML) ? What are the Duties a loan processor may/may not perform? What acts are Allowable by underwriters ? Clerical/support duties, Loan processors ? Documents to be signed at closing The Loan Estimate (LE) The Closing Disclsoure (CD) Documents Required for a Home Loan Application
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