Arizona Department of Financial Institutions (DIFI)
The Arizona Department of Financial Institutions (DIFI) is the state regulatory body responsible for overseeing and regulating mortgage brokers, bankers, and other financial institutions within Arizona. DIFI plays a crucial role in enforcing state and federal mortgage laws, including consumer protection provisions.
Role and Responsibilities
DIFI's responsibilities include:
- Overseeing mortgage lenders and other financial institutions.
- Ensuring compliance with state and federal laws.
- Providing consumer protection for Arizona residents.
Homeowners in Arizona who have problems or questions related to mortgage refinancing or other financial services can contact DIFI for assistance. DIFI's oversight helps ensure that lenders operate fairly and adhere to regulations.
Consumer Protection and Enforcement
DIFI is specifically noted for its enforcement of the Right of Rescission in Arizona, as outlined under the Federal Truth in Lending Act (TILA) (15 U.S.C. § 1635) and Regulation Z (12 C.F.R. 226.15). This enforcement is carried out through Arizona Revised Statutes §§ 6-906(D) and 6-946(E).
Contact Information
- Phone: (602) 364-3100
- Address: 100 North 15th Avenue, Suite 261, Phoenix, AZ 85007
- Website: https://difi.az.gov
Source material
- arizona_rate_term_refinance.html
- rate_term_refinance_research
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