The Home Ownership and Equity Protection Act of 1994 (HOEPA) amended the Truth in Lending Act (TILA). The law imposed new disclosure requirements and substantive limitations on certain closed-end mortgage loans bearing rates or fees above a certain percentage or amount. HOEPA sets the requirements for homeownership counseling, restrictions on loan, and certain protections and prohibitions. This course details the Regulation Z rules of HOEPA. This course is intended for lenders, loan operations staff, and compliance personnel.
Learning Objectives:
- Identify the types of transactions considered high cost mortgages
- Know how to apply the HOEPA coverage test
- Understand the prohibited acts and practices
Duration:
0.5 hours
Features:
Mobile, accessible, audio, video
Module(s):
40482EN
