There are many legislations that the federal government has passed to ensure the protection of the home buyer, seller and the home owner. Below is a list that we thought might be useful for you to know or at least recognize in case of a violation. We have also included the name of the government agency that is responsible for the enforcement of these regulations.

Federal Flood Insurance Program (1968) and National Flood Insurance Act (1968)

This act ensures that property owners have reasonable flood insurance rates and coverage for losses not usually covered in commercial policies by offering insurance through a government program. Department of Housing and Urban Development.

Federal Home Bank Loan Act (1932)

This act created the Federal Home Bank Loan Board along with the Federal Home Loan Bank System.. Federal Home Loan Bank Board

Federal Trade Commission Improvement Act - Magnuson-Moss Warranty (1975)

This act related to real estate in that the appliances and all the heating/cooling, plumbing, electrical systems that have a warranty must be explained in clear, simple and understandable terms to prevent deception. Federal Trade Commission.

Federal Water Pollution Control Act and Amendments (1972)

This act was created to prevent pollution of water and established plants to treat sewer. Federal Energy Regulatory Commission, Environmental Protection Agency.

Financial Institutions Reform, Recovery and Enforcement Act (1990)

This act reformed the Savings and Loan (S&L) institutions by creating several entities, including the Federal Housing Finance Board, Office of Thrift Supervision, Resolution Trust Corporation, and by charging the Federal Deposit Insurance Corporation with the responsibilities formally performed by the now dissipated Federal Savings and Loan Insurance Corporation. Federal Reserve Board.

Flood Disaster Protection Act (1973) and Amendments (1975 and 1976)

The coverage established by the Federal Flood Insurance Program and the National Flood Insurance Act of 1968 is extended in this act and requires all property owners that purchase real estate in a flood zone to participate in the flood insurance, and prohibits federally regulated lending institutions to grant a loan without the protection of the flood insurance. This act also requires the states where flood zones are located to participate in the program and to pass ordinances with due enforcement requiring flood-zone communities to participate as well. Department of Housing and Urban Development.

Foreign Investment in Real Property Tax Act (1980) and Amendment (1984)

Requires that if the seller of a property is a nonresident alien, the buyer must withhold tax, thereby eliminating a loophole that would enable a nonresident alien to buy and sell American property without paying taxes. Internal Revenue Service.

Truth-in-Lending Act (1968)

Forces lenders to disclose terms of mortgages to help consumers make informed decisions and to create a better atmosphere of competitions among lending institutions. Federal Trade Commission, Federal Home Loan Bank Board, Comptroller of Currency, Federal Deposit Insurance Corporation, Federal Reserve System.

Truth-in-Lending Simplification and Reform Act

Further regulations regarding lenders’ disclosure toward the consumer in an attempt to protect the consumer from unfair practices by the lending institutions by allowing him to make more informed decisions about the use of credit. Federal Trade Commission, Federal Home Loan Bank Board, Comptroller of Currency, Federal Deposit Insurance Corporation, Federal Reserve System.

Uniform Relocation Assistance and Real Property Acquisition Policies Act (1970)

Establishes a policy that protects from unfair and inequitable treatment of persons affected by loss of property caused directly by federal or federally funded programs. Department of Housing and Urban Development.

Veterans’ Housing Benefits Act (1978)

Helps Veterans by increasing types of available loans and by reducing the requirement of time served for Vietnam Veterans. Veterans’ Administration.

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