Examples of HOEPA mortgage in a sentence
In 2009, the FRB found that lending without regard to a borrower’s ability to repay a higher priced or HOEPA mortgage loan caused substantial injury.96 It found that [l]ending without regard to repayment ability .
For example, since the passage of the 1994 Home Ownership Equity Protection Act (HOEPA), mortgage originations New York, February 1, 2017, at https://www.newyorkfed.org/medialibrary/media/research/epr/2016/epr_2016-adrian- macroprudential-policy.pdf?la=en.) Likewise, governments worldwide have used public credit guarantees to increase access to financing for certain groups or when the nation’s banking system is more vulnerable to sudden and frequent liquidity crunches.
These sanctions can however be easily avoided by adopting a clear time schedule and applying good case management.
There may also be other potential resources that have not been identified, researched, or evaluated for historical significance as defined in CEQA.There are a number of federal, state, and local policies, regulations, and institutions in place to protect historical resources.
The Loan Store, Inc.,37 the court held that two successive assignees of a HOEPA mortgage could be held liable for the original mortgagee's HOEPA violations.
For any higher-priced mortgage or HOEPA mortgage, the financial institution must be able to verify income and debts.
Defendants' HOEPA mortgage loans typically include, inter alia, interest rates ranging from 12% to 48% and up-front fees that include loan origination fees ranging from 5% to 25% of the loan amount.
They do not allege that (let alone how) any violations appeared on the face of the disclosure, nor do they allege that their mortgage qualified as a high-cost HOEPA mortgage, expanding the scope of assignee liability.
HOEPA mortgage means a mortgage covered by section 103(bb) of the Home Ownership and Equity Protection Act (HOEPA) (15 U.S.C. 1602(bb)), as implemented by the Bureau of Consumer Financial Protection.
The statute provides that an assignee of a HOEPA mortgage “shall be subject to all claims and defenses with respect to [the] mortgage that the consumer could assert against the [original] creditor .