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| Home Owner and Equity Protection Act |
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| Regulations and Regulatory agencies |
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| APR thresholds for first-lien and subordinate-lien high-cost mrtg are: |
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| The only types of transactions that are expempt from the provisions of HOEPA are: p53 |
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| RHS - Rural Housing Loans |
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| Disclosures & Notifications required by HOEPA |
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| Recipients of HOEPA disclosures include: |
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| Special HOEPA Disclosures |
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| Notice of Balloon payment |
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| Notice of the inclusion of insurance premiums |
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| Affirmative Requiremetns for HOEPA transactions |
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| Evaluation of brwr repayment ability |
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| Evaluating repayment ability in closed-end transactions |
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| Evaluating repayment ability in open-end transactions |
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| Creditors must verify income and assets using: |
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| Presumption of compliance |
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| Required notice to assignees and purchasers |
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| Increased interest rate after default |
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| Increased interest rate after default |
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| Improperly calculated rebates |
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| Prohibited Leding practices |
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| Direct payments to home improvement contractors |
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| Financing points and fees |
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| Lending without repayment ability |
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| Lending without pre-loan counseling |
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| Loans protected by the higher-priced mrtg regulations p 61 |
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| Mall creditor exemption p 63 |
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| Appraisal requirements for HPMLs |
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| Exemptions from appraisal requirements |
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| Special requirements for two appraisals |
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| When two appraisals are required, they must meet the following requirements: |
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| Exemptions from the requirement for two appraisals p68 |
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| Loan Originator (LO) Compensation Rule intends to discourage harmful practices like: |
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| The LO Rule applies to "loan originators" in the expectation of compensation or gain: |
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| Originator under the LO Rule could be any of the following: |
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| Prohibition against Compensation based on the terms of the loan |
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| Prohibition against Dual Compensation |
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| Prohibition against Steering |
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| Providing the loan estimate in good faith |
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| Other fees that may not change include those paid to: p74 |
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| CHarges that may vary from the estimated fees include: |
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| The revised loan estimate |
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| The Use of a revised LE is permitted in the following cases: |
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| Consumer-requested revisions |
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| Delays caused by the consumer |
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| EBay's related to construction loans |
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| Shopping for settlement service providers |
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| When a creditor allows the consumer to shop for settlement services, there are two requirements with which it must comply: |
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| Completing the Loan Estimate |
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| Completing the Loan Estimate p76-77 |
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| Projected Payments Table p78 |
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| Estimated Cash to Close p79-80 |
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| COmpleting the Closing Disclosure |
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