Skip to main content

Federal Reserve posts new TILA and HOEPA fee triggers

Aug 02, 2010

The Federal Reserve Board has published its annual adjustment of the dollar amount of fees that triggers additional disclosure requirements under the Truth-in-Lending Act (TILA) and the Home Ownership and Equity Protection Act (HOEPA) of 1994 for home mortgage loans that bear rates or fees above a certain amount. The dollar amount of the fee-based trigger has been adjusted to $592 for 2011 based on the annual percentage change reflected in the Consumer Price Index that was in effect on June 1, 2010. The adjustment is effective Jan. 1, 2011. This adjustment does not affect the rules for "higher-priced mortgage loans" adopted by the Board in July 2008. Coverage of mortgage loans under the July 2008 rules is determined using a different rate-based trigger. HOEPA restricts credit terms such as balloon payments and requires additional disclosures when total points and fees payable by the consumer exceed the fee-based trigger (initially set at $400 and adjusted annually) or eight percent of the total loan amount, whichever is larger. Click here to view the official Federal Reserve notice. For more information, visit www.federalreserve.gov.
About the author
Published
Aug 02, 2010
President Trump ‘Giving Very Serious Consideration’ To Re-Privatizing Fannie And Freddie

President indicates the time ‘would seem to be right,’ says he’ll make a decision ‘in the near future’

James Brody, Esq. Now Owner Of New, National Compliance, Litigation Law Firm

JW Brody | Compliance & Litigation to serve IMBs, mortgage brokers, depositories, credit unions, and fintechs

May 19, 2025
DOJ Opens Criminal Investigation Into NY AG Letitia James Over Mortgage Fraud Claims

Investigation follows April referral by FHFA Director Bill Pulte; potential charges include wire, mail, and bank fraud

May 09, 2025
Federal Layoffs Help Drive Record 25% Surge In D.C. Housing Inventory

Cuts at mortgage, housing-related agencies help spur government employee exodus from the nation’s capital

May 07, 2025
Undocumented, But Not Unmortgageable

As immigration enforcement intensifies, lenders must decide if ITIN mortgages are too risky — or too valuable to ignore

Freddie Mac’s Net Income Up By $28M To $2.8B For Q1 2025

GSE sees chance to ‘strip away unnecessary bureaucracy and eliminate non-essential activities’ to drive tech investments, lower origination costs

May 01, 2025