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What laws does OFIR check for compliance with during an examination?

April 26, 2017compliance Laws OFIR

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What laws does OFIR check for compliance with during an examination?

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OFIR may check for compliance with all state and federal laws pertaining to mortgage activity, including, but not limited to: Mortgage Brokers, Lenders, and Servicers Licensing Act (MCL 445.1651 – 445.1684) Secondary Mortgage Loan Act (MCL 493.51 – 493.81) Consumer Mortgage Protection Act (MCL 445.1631 – 445.1645) Mortgage Lending Practices Act (MCL 445.1601 – 445.1614) Mortgage Loan Originator Licensing Act (MCL 493.131 – 493.171) Regulation B Regulation X Regulation Z Title 16 – Standards for Safeguarding Consumer Information (16 CFR 314.3) Title 16 – Identity Theft Rules (16 CFR 681.1) Copies of the state laws can be found on the OFIR website at http://www.michigan.gov/dleg/0,1607,7-154-10555_13167_13168—,00.html Copies of the federal laws (Reg.