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#1536833 - 04/18/11 05:01 PM APOR?
komply Offline
Gold Star
Joined: Apr 2008
Posts: 475
NJ
Does the Treasury Security APOR vary between HELOANs and HELOCs? Are they separate?

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Lending Compliance
#1536963 - 04/18/11 06:53 PM Re: APOR? komply
Sheldon Hendrix Offline
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Sheldon Hendrix
Joined: Jun 2006
Posts: 1,159
South
The T-bill indexes and the Average Prime Offer Rate index (APOR) are two separate indexes on loans secured by a consumer's principal dwelling. Treasury securities are used to determine if a loan is "high-cost" under 32 of Reg. Z. The APOR is used to determine if a loan is "High Priced" under 35 of Reg. Z, and HELOCs are exempt. Both loan definitions have two spread tests, one for first lien and one for second lien.

Several states have high cost mortgage laws that are similar or identical to 32 of Reg. Z in definition.

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#1537021 - 04/18/11 07:47 PM Re: APOR? Sheldon Hendrix
komply Offline
Gold Star
Joined: Apr 2008
Posts: 475
NJ
Thank you very much

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