Fair Housing Act (FHA).

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Fair Housing Act (FHA)

Federal Consumer Financial Protection Guide
Compliance ManagementCompliance Management Systems and Compliance Risk
Consumer Leasing Act (Regulation M).
Fair Credit Reporting Act (Regulation V).
Homeowners Protection Act (PMI Cancellation Act).
Military Lending Act (MLA).
Real Estate Settlement Procedures Act (Regulation X).
Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) (Regulation G).
Servicemembers Civil Relief Act (SCRA).
Small Dollar Lending and Payday Alternative Loans.
Truth in Lending Act (Regulation Z).
Equal Credit Opportunity Act (Regulation B).
Fair Housing Act (FHA).
Home Mortgage Disclosure Act (Regulation C).
Electronic Fund Transfer Act (Regulation E).
Expedited Funds Availability Act (Regulation CC).
Truth in Savings Act (NCUA Rules & Regulations Part 707).
Children's Online Privacy Protection Act.
Privacy of Consumer Financial Information (Regulation P).
Unfair, Deceptive, or Abusive Acts or Practices (UDAAP).
Electronic Signatures in Global and National Commerce Act (E-Sign Act).

Fair Housing Act (FHAct, 42 U.S.C. § 3601 et seq.), which is carried out by the Department of Housing and Urban Development's (HUD) policies (24 CFR Part 100), was enacted as Sections 800 to 820 of Title VIII of the Civil Liberty Act of 1968, as modified. FHAct makes it illegal for lenders to victimize anyone in providing a residential genuine estate-related transaction or to dissuade a candidate from sending a loan application based on race, color, national origin, religious beliefs, sex, familial status, or handicap.

In specific, FHAct applies to funding or acquiring a mortgage loan protected by property genuine estate. Specifically, a loan provider may not reject a loan or other monetary support for the purpose of acquiring, constructing, enhancing, fixing, or maintaining a residence on any of the forbidden bases kept in mind above. FHAct likewise makes it illegal for a lender to utilize a prohibited basis to discriminate in setting the terms or conditions of credit, such as the loan quantity, interest rate, or period of the loan on a prohibited basis.

Furthermore, a loan provider may not reveal, orally or in writing, a preference based upon any restricted factors or show that it will deal with candidates differently on a prohibited basis, even if the loan provider did not act on that declaration. A violation might still exist even if a lender treated candidates similarly.

In addition, due to the fact that domestic real estate-related transactions include any transactions protected by residential property, FHAct's prohibitions (and regulatory requirements in particular areas, such as marketing) use to home equity lines of credit along with to home purchase and refinancing loans. These restrictions likewise use to the selling, brokering, or appraising of domestic genuine residential or commercial property and to secondary mortgage market activities. Consequently, a credit union's policies, procedures and practices including housing finance must be broadly taken a look at to ensure that the cooperative credit union does not otherwise make not available or deny housing.

Sexual Orientation and Gender Identity

Although FHAct does not specifically prohibit discrimination based on sexual orientation or gender identity, HUD addressed gay, lesbian, bisexual, and transgender (LGBT) housing discrimination by issuing the Equal Access to Housing in HUD Programs Despite Sexual Preference or Gender Identity Rule (Equal Access Rule, 77 Fed. Reg. 5662, Feb. 3, 2012). The Equal Access Rule applies to housing assisted or insured by HUD, consequently impacting Federal Housing Administration-approved lending institutions and others taking part in HUD programs. Specifically, a decision of eligibility for housing that is helped by HUD or based on a mortgage insured by the Federal Housing Administration shall be made in accordance with the eligibility requirements offered such program by HUD, and such housing will be made readily available without regard to real or viewed sexual preference, gender identity, or marital status. (24 CFR § § 5.100 and 5.105( a)( 2 )). The Equal Access Rule became effective on March 5, 2012.

Fair Housing Act (FHAct, 42 U.S.C. § 3601) can be discovered here

HUD's Regulations (24 CFR Part 100) can be found here

For Equal Access to Housing in HUD Programs Despite Sexual Preference and Gender Identity (Equal Access Rule) can be found here

NCUA Rules and Regulations 12 CFR § 701.31 can be discovered here

Definitions utilized in:

- FHAct (42 U.S.C. § 3602) can be discovered here.
HUD Regulations (24 CFR § 100.20) can be discovered here.
Subpart A - Generally Applicable Definitions and Requirements