What is Title V of the Housing and Economic Recovery Act of 2008 more commonly known as?

Title V of the Housing and Economic Recovery Act of 2008 is more commonly known as the SAFE Act, which stands for the Secure and Fair Enforcement for Mortgage Licensing Act. The SAFE Act was designed to enhance consumer protection and reduce fraud by establishing a set of minimum standards for licensing and registration of mortgage loan originators. It requires all states to implement a licensing system and mandates that mortgage loan originators complete pre-licensure education and pass a national exam. This focus on standardized licensing and education helps ensure that individuals who engage in mortgage lending are knowledgeable and qualified, ultimately contributing to the stability of the housing market.

The other options, while significant pieces of legislation related to housing and finance, do not correspond to Title V of the Housing and Economic Recovery Act of 2008. The Fair Housing Act addresses discrimination in housing, the Home Mortgage Disclosure Act requires financial institutions to disclose mortgage lending data, and the Dodd-Frank Act implemented reforms in the financial industry following the 2008 financial crisis, but none of these refer specifically to the provisions outlined in Title V.