III. Trendsetting predatory financing laws and regulations

HOEPA was a landended TILA to incorporate specific individuals having defenses facing finance with excessive rates of interest otherwise fees. HOEPA’s intent were to cover the present guarantee from people from predatory refinancing methods, thus the protections was indeed limited to re-finance mortgages. In lieu of banning high-pricing finance, HOEPA built rate of interest and you can fee thresholds one brought about next disclosure standards and you can restrictions towards the particular financing conditions, together with prepayment charges having financing.