The Fair Housing Act is part of the Civil Rights Act of 1968. The Fair Housing Act
declares a national policy of fair housing throughout the United States. The law makes
illegal any discrimination in the sale, lease, or rental of housing, or makes housing
otherwise unavailable, because of race, color, religion, sex, handicap, family status, or
natural origin.
Fair Credit Reporting Act
The Fair Credit Reporting Act is designed to promote accuracy, fairness and privacy of
information used in the process of granting credit. All the information in your personal
credit history is supplied by public record sources, credit grantors and others to credit
reporting agencies. This act gives you specific rights in dealing with these agencies. You
may request a free copy of your credit report from one of the below agencies within 60
days of the unfavorable action.
Equifax/CBI P.O.Box 740256 Atlanta, GA 30374 800-378-2732 or
800-685-1111
http://www.equifax.com
Trans Union Corporation P.O.Box 390 Springfield, PA 19064
800-888-4213
http://www.transunion.com
Experian/TRW 701 Experian Pkwy P.O.Box 949 Allen, TX 75011 800-422-4879
http://www.experian.com
Equal Credit Opportunity Act
The Equal Credit Opportunity Act ensures that all consumers are given an equal chance to
obtain credit. This does not mean that all consumers who apply for credit receive it:
Factors such as income, expenses, debt, and credit history are all considerations for
creditworthiness. This law protects you from a creditor discouraging you from applying
because of your sex, marital status, age, race, national origin, or because you receive
public assistance income.
Real Estate Settlement Procedures Act (RESPA)
In 1974, the Real Estate Settlement Procedures Act (RESPA) was enacted to ensure that
buyers are informed regarding the amount and type of charges they will pay at closing.
This was created to ensure that borrowers throughout the country are provided with greater
and more timely information on the nature of the costs associated with getting a mortgage
loan. Federal regulation requires that within three days of your initial loan application,
you receive a disclosure of estimated settlement costs on what is know as a "Good
Faith Estimate". RESPA was also created to regulated the amount of money borrowers
are required to place in escrows for taxes and insurance.
Truth-In-Lending Act
The Truth-In-Lending Act is implemented by Federal Reserve Regulation Z and requires that
lenders disclose the annual percentage rate (APR) of interest and finance charges imposed
on consumers. The intent of this act is to help borrowers understand loan transactions,
and to assist you in comparing loans offered by different lending institutions.
Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act protects consumers from harassment and intimidation
by debt collectors. It establishes a nationwide system for controlling agencies that
collect other companies' overdue accounts. The Federal Trade Commission is responsible for
enforcing the Fair Debt Collection Practices Act.