Section 32
This is the threshold for first Lien
What is 6.5% above APOR?
This is the threshold for a subordinate lien
What is 3.5%
Home Ownership and Equity Protection ACT
This is the threshold for second lien
This person is responsible for establishing ATR, Escrow taxes, insurance, and full appraisals
Who is the Loan Originator?
HOEPA was established because of.......
Subprime Loans
This percentage of fees cannot be exceeded for a loan amount of $22,052
What is 5%
In 2009, TILA/HOEPA was amended to create a new category of loans called this
Higher-Priced Mortgage Loans
Targeting communities with limited access to credit with offers for risky subprime mortgages
Reverse Redlining
This percentage of points of fees cannot be exceeded when the loan amount is less than 22,052
HOEPA have these four sections ......
31,32,34
HOEAP falls under this Regulation
Regulation Z
HPML
Higher-Priced Mortgage Regulations