[SS Fed] Identifying High-Cost Mortgages and Higher-Priced Mortgage Loans

Course Description

In 1994, Congress adopted the Home Ownership and Equity Protection Act (HOEPA) in response to the growing use of abusive mortgage lending terms and practices in the subprime market. In 2008, the Federal Reserve Board attempted to make protections available to more borrowers in the subprime market by writing a new set of regulations that apply to “higher-priced mortgage loans.”

This course provides an overview of the loans covered by HOEPA, as well as those considered higher-priced under the law.

10 Minutes