When you look at the 2001, brand new Panel revised the latest HOEPA rules in response so you can renewed issues about predatory financing. New 2001 laws alter, great at 2002, lengthened HOEPA’s protections so you’re able to way more higher-cost loans and you can bolstered HOEPA’s prohibitions and edd card alance you can limits, and additionally of the requiring one to loan providers fundamentally file and be sure a consumer’s capability to pay off a top-prices home loan. Simultaneously, the fresh rule changes handled inquiries one to higher-cost finance have been packed that have credit life insurance or any other similar items that increased the brand new loan’s costs instead of commensurate benefit to consumers. Continua a leggere