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Price of HOEPA

The FRB has announced its annual readjustment of the HOEPA fee-based trigger for high cost mortgage calculations. The figure for 2004 will be $499. Be sure your worksheets and systems are adjusted accordingly. Note: this has no effect on HMDA disclosures other than indicating whether or not the loan is a high-cost loan. HMDA rate-spread calculations are not affected by this fee-based trigger.

Copyright © 2003 Compliance Action. Originally appeared in Compliance Action, Vol. 8, No. 11, 11/03

First published on 11/01/2003

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Filed under compliance as: 

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