Mortgage lending looks different in several states after a wave of new laws and regulations changed how lenders can market loans, handle borrower information, and operate in the housing market. The changes do not create a single new mortgage rulebook, either, which means a borrower in one state may encounter very different rules from someone applying for a loan a few states away.
That matters because mortgage shopping already involves enough paperwork to fill a small filing cabinet. New state rules add another layer, particularly around something called a “trigger lead,” lender licensing, foreclosure procedures, and consumer protections. Here are 10 states where recent changes deserve a closer look.
