However, for HOEPA (and I realize Randy is giving examples of how you would determine...but if you don't know what a Residential Mortgage Transaction is, you may not realize HOEPA exempts (for now until January when the rules change)
purchase transactions.
(2) This section does not apply to the following:
(i) A residential mortgage transaction.
(24) Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in the consumer's principal dwelling to finance the acquisition or initial construction of that dwelling.
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My opinion only. Not legal advice.
Say you'll haunt me - Stone Sour