Government and Regulatory

Government and regulatory pages explain the mortgage rules and definitions that shape how loans are offered, reviewed, and disclosed. These terms matter because program structure and consumer-protection rules influence what lenders can do and what borrowers should expect.

Start with Ability to Repay and Qualified Mortgage (QM) to understand how borrower-protection rules affect underwriting and liability. Then read Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), and TRID to see how mortgage disclosures and settlement rules reach borrowers through the Loan Estimate and Closing Disclosure.

In this section

• Ability to Repay
  Ability to Repay is the mortgage rule concept requiring a reasonable, good-faith determination that the borrower can repay the loan.
• Qualified Mortgage (QM)
  Qualified mortgage is a regulatory mortgage category tied to consumer-protection standards and ability-to-repay rules.
• Truth in Lending Act (TILA)
  The Truth in Lending Act is a federal disclosure law designed to make credit terms clearer and easier for consumers to compare.
• Real Estate Settlement Procedures Act (RESPA)
  RESPA is a federal law governing important mortgage settlement practices, disclosures, and certain servicing-related rules.
• TRID
  TRID is the integrated mortgage disclosure framework that uses the Loan Estimate and Closing Disclosure for many closed-end mortgages.