Skip to content
BOL Conferences
Thread Options
#581480 - 07/10/06 05:24 PM consumer loan origination fee
beegee Offline
Diamond Poster
Joined: Feb 2004
Posts: 1,110
South
What issues or regulations should be considered when charging an "origination fee" on 1st mortgages on the Consumer Loan side?

Return to Top
Lending Compliance
#581481 - 07/10/06 05:27 PM Re: consumer loan origination fee
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
State law for any limitations on the amount you can charge and how they may affect Usury. They will be included in your APR calculations.

PS. Don't forget to check for HOEPA.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#581482 - 07/11/06 05:47 AM Re: consumer loan origination fee
David Ricketts Offline
New Poster
Joined: Jul 2006
Posts: 4
Denver, Colorado
Where do I find the HOEPA Trigger rates (section 32) for a given month. I think I found the website with the Treasury Securities posted, but I am unclear on how to read it. For instance, if I took an application today 7-10-06 what would be the maximum APR allowed on a 15 year term before it is considered a Section 32 loan or trigger rate. Please advise.

Return to Top

Moderator:  Andy_Z