HOEPA

Posted By: deh

HOEPA - 03/25/08 07:52 PM

Can anyone assist me with the current HOEPA rate and what the fee limit is?

Thanks for any help.
Posted By: Tesla

Re: HOEPA - 05/20/08 09:14 PM

Did you mean for the IL High Risk Home Loan Act? If so, the fee limit is $907 for 2008. The rate is 6 for a first lien and 8 for a junior plus the yield on U.S. Treasury securities having comparable periods of maturity to the loan maturity as of the fifteenth day of the month immediately preceding the month in which the application for the loan is received by the lender.