Final answer:
The State Banking Commission is the state agency with the power to enforce laws related to mortgage loan activities, though the Consumer Financial Protection Bureau (CFPB) also plays a key role in overseeing financial industries and protecting consumers at the federal level.
Step-by-step explanation:
The state agency that has the power to enforce all laws related to mortgage loan activities is typically the State Banking Commission. Agencies such as the Department of Housing and Urban Development (HUD) and the Federal Reserve have broader mandates and responsibilities that include, but are not limited to, mortgage loans. The Consumer Financial Protection Bureau (CFPB), created in 2011, is specifically tasked with overseeing certain financial industries and ensuring protection from abuses such as discriminatory lending or a lack of transparency. However, state banking commissions have direct regulatory authority at the state level to enforce state-specific laws concerning mortgage loan originators and their activities.