by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
A “Qualified Mortgage” (“QM”) is a category of mortgage loan defined under federal law and Regulation Z that is intended to ensure borrowers receive loans they have a reasonable ability to repay. Established under the Dodd-Frank Wall Street Reform and Consumer...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”) is a federal law enacted to establish minimum licensing and registration standards for Mortgage Loan Originators (“MLOs”) throughout the United States. The law was designed to enhance...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
Regulation Z is the federal regulation that implements the Truth in Lending Act (“TILA”) and establishes detailed rules governing consumer credit disclosures and lending practices. Issued and enforced primarily by the Consumer Financial Protection Bureau (“CFPB”),...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
The Truth in Lending Act (“TILA”) is a federal consumer protection law enacted in 1968 to promote the informed use of consumer credit by requiring clear and standardized disclosure of key loan terms and costs. Administered primarily through Regulation Z, TILA applies...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
A mortgage “pre-approval” is a lender’s conditional determination that a borrower qualifies for a home loan up to a specified amount, based on a detailed review of the borrower’s financial information and creditworthiness. During the pre-approval process, the lender...
by Ethan Atkinson | May 15, 2026 | P-T, PropertyPedia
A mortgage “pre-qualification” is an initial evaluation by a lender of a prospective borrower’s financial profile to estimate how much the borrower may be eligible to borrow for a home purchase or refinance. The process is generally informal and is often based on...
