Which agency is responsible for enforcing compliance of mortgage brokers with federal lending laws?

The agency responsible for enforcing compliance of mortgage brokers with federal lending laws is the Consumer Financial Protection Bureau (CFPB). The CFPB was established in response to the financial crisis of 2008, with the mission to protect consumers in the financial sector, including mortgage lending. It enforces various federal laws governing mortgage practices, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act.

The Federal Reserve Board primarily focuses on regulating and overseeing the nation's monetary policy and banking institutions, rather than specifically enforcing mortgage compliance. The Federal Trade Commission (FTC) works to protect consumers from deceptive business practices but does not specialize in the enforcement of mortgage-specific laws. The Federal Housing Finance Agency (FHFA) oversees government-sponsored enterprises like Fannie Mae and Freddie Mac, but it does not deal directly with compliance issues faced by mortgage brokers.

In summary, the Consumer Financial Protection Bureau is the key agency tasked with ensuring that mortgage brokers adhere to federal lending laws, which is crucial for consumer protection and maintaining trust in the lending process.