<p>WASHINGTON-NCUA issued a `Regulatory Alert’ to credit unions notifying them of the Federal Reserve Board’s decision to adjust the threshold for mortgage fees that trigger Home Ownership and Equity Protection Act (HOEPA) requirements. The Fed increased the dollar amount of the fee-based trigger to $480, which reflects the annual percentage change in the Consumer Price Index as of June 1, 2001. Formerly, HOEPA was triggered if the total points and fees payable by the consumer at or prior to loan consummation exceeded $400 or 8% of the loan, whichever is greater. Regulation Z required the adjustment. January 1, 2002 was the effective date of the change.</p>

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