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#204065 - 06/24/04 05:32 PM HOEPA coverage for a change in terms
abanker Offline
Member
abanker
Joined: Oct 2002
Posts: 76
Colorado
We have an original loan NOT HOEPA applicable which has matured. We want to extend that loan out another term, do we have to test for HOEPA now?

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Lending Compliance
#204066 - 06/24/04 05:38 PM Re: HOEPA coverage for a change in terms
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,278
Bloomington, IN
Look at 226.20, if it meets the definition of a refinance yes, if it's a modification no.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#204067 - 06/24/04 05:40 PM Re: HOEPA coverage for a change in terms
abanker Offline
Member
abanker
Joined: Oct 2002
Posts: 76
Colorado
Thank you.

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