WASHINGTON — The Federal Reserve Board has increased the dollar amount for points and fees that trigger disclosures to borrowers under the Home Ownership and Equity Protection Act of 1934. The new minimum amount becomes effective January 1, 2009.
HOEPA regulates high-cost home loans. Congress enacted HOEPA in 1994 in response to concerns about predatory lending in the home equity market.
NOT FOR REPRINT
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
