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HOEPA Calculation

Answered by: 
David A. Dickinson

Question: 
In the new 2007 HOEPA worksheet, should the loan amount in the "Does HOEPA Apply?" calculation be $6837.50 ($547/.08) rather than $6600 ($528/.08)?
Answer: 

You are correct. Shortly after releasing the 2007 HOEPA Worksheet, we realized our error. Sorry for any confusion this may have caused. A corrected HOEPA worksheet can be found at the BOL Tools page.

First published on BankersOnline.com 4/16/07

First published on 04/16/2007

Filed under: 
Lending
Filed under lending as: 
HOEPA
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