HOEPA coverage for a change in terms

Posted By: abanker

HOEPA coverage for a change in terms - 06/24/04 05:32 PM

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?
Posted By: Dan Persfull

Re: HOEPA coverage for a change in terms - 06/24/04 05:38 PM

Look at 226.20, if it meets the definition of a refinance yes, if it's a modification no.
Posted By: abanker

Re: HOEPA coverage for a change in terms - 06/24/04 05:40 PM

Thank you.