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What laws does DIFS check for compliance with during an examination?
DIFS may check for compliance with all state and federal laws pertaining to mortgage activity, including, but not limited to:
Mortgage Brokers, Lenders, and Servicers Licensing Act (MCL 445.1651 - 445.1684)
Secondary Mortgage Loan Act (MCL 493.51 - 493.81)
Consumer Mortgage Protection Act (MCL 445.1631 - 445.1645)
Mortgage Lending Practices Act (MCL 445.1601 - 445.1614)
Mortgage Loan Originator Licensing Act (MCL 493.131 - 493.171)
Title 16 - Standards for Safeguarding Consumer Information (16 CFR 314)
Title 16 - Identity Theft Rules (16 CFR 681)
Copies of Title 16 can be found on the following websites: