What regulatory body covers a transaction of a second mortgage for household purposes?

The Utah Consumer Credit Code governs various consumer credit transactions within the state, including second mortgages for household purposes. This code establishes the legal framework for lending practices, ensuring that consumers are protected from unfair or deceptive practices in credit transactions. It outlines the terms, disclosure requirements, and regulations that lenders must adhere to when providing second mortgages to individuals for personal use, such as home improvements or consolidating debt.

The other entities mentioned serve different roles in the financial regulatory landscape. The Federal Reserve primarily deals with monetary policy and banking regulations on a national level rather than focusing on specific consumer credit transactions like second mortgages. The Federal Trade Commission is primarily concerned with protecting consumers from unfair business practices and promoting competition; while it may influence consumer credit, it does not directly regulate mortgages. The Division of Real Estate oversees real estate licensing and enforcement of real estate laws in Utah, but it does not manage or regulate consumer credit transactions specifically related to second mortgages. Thus, the Utah Consumer Credit Code is the appropriate authority for the regulation of second mortgage transactions in this context.