Which federal acts does the New Jersey Residential Mortgage Lending Act work in conjunction with?

The New Jersey Residential Mortgage Lending Act is designed to regulate mortgage lending practices within the state, and it works in conjunction with several key federal acts that govern various aspects of mortgage lending. The Truth in Lending Act (TILA) is crucial as it requires lenders to disclose important terms and costs of loans to borrowers, ensuring transparency in lending practices. This is complemented by the Real Estate Settlement Procedures Act (RESPA), which aims to ensure that borrowers receive sufficient information about the settlement process and protects them from abusive practices. Together, these two federal acts enhance consumer protection and regulation within the mortgage lending landscape, aligning perfectly with the goals of the New Jersey Residential Mortgage Lending Act.

The other choices incorporate federal acts that serve different purposes or are not directly aligned with the mortgage lending framework. While the Fair Housing Act and the Equal Credit Opportunity Act focus on preventing discrimination in housing and lending, they do not specifically address the detailed regulations of mortgage lending practices. The Home Mortgage Disclosure Act and the Dodd-Frank Act are significant but relate to different aspects of financial regulation, including broader consumer financial protection and mortgage market transparency, rather than matching the core focus of the New Jersey Residential Mortgage Lending Act. Lastly, the Affordable Care Act and the Patriot Act pertain to health care