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12 CFR Part 1024 - Real Estate Settlement Procedures Act (Regulation X)

Most recently amended Oct. 19, 2017

Regulation X protects consumers when they apply for and have mortgage loans.

The mortgage loan process includes:

  • Applications for mortgage loans
  • Origination of mortgage loans
  • Title insurance
  • Conducting the settlement (or closing)
  • Escrow accounts
  • Mortgage loan servicing

The regulation covers topics such as:

  • Prohibition on kickbacks and unearned fees
  • Mortgage origination and servicing disclosures
  • Affiliated business arrangements
  • Title insurance
  • Escrow accounts
  • List of homeownership counseling organizations
  • Mortgage loan servicing requirements
  • Force-placed insurance
  • Mortgage loan servicing error resolution and borrower information requests
  • Loss mitigation