Predatory Lending - Ethics Issues

2915 words/11 pages

Fed through Regulation Z . HOEPA 's safeguards cover home equity mortgages deemed to be "high cost " which Regulation Z defines as a home equity mortgage meeting one of two threshold conditions known respectively as the rate trigger and the fee trigger . Once one of these triggers is satisfied , the HOEPA-Regulation Z regime mandates that the lender give the borrower a set of basic disclosures three business days before the loan is closed . These disclosures are on top of the regular...