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Change in HOEPA indicator under new HMDA rules

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Question: 
I heard that even the HOEPA indicator will be changed under the new HMDA filing rules effective in 2018. Is that true?
Answer: 

Yes. Currently for HOEPA financial institutions report that a loan is either a high cost mortgage or it is not.

Under the revised rules, you will report that a loan is subject to HOEPA and either is or is not a high cost mortgage, or that the loan is not subject to HOEPA.
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Learn more about Kathleen’s webinar HMDA Rule Revisions: Deep Exploration .
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First published on 06/05/2016

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