HOEPA & Escrow Analysis Worksheets Updated
By Amy Kudlacek
HOEPA WORKSHEET
Effective January 1, 2010, the fee based trigger amount used to calculate whether a loan is subject to HOEPA was decreased to $579 (down from $583 in 2009). Therefore, we have updated our HOEPA Worksheet with this change. Version 2010-1 is now available on the free downloads page of our website.
Just a reminder that if you have a copy of the HOEPA worksheet saved on your computer, you will need to download Version 2010-1. However, you may want to keep a copy of Version 2009-1 for any auditing you do of "old" loan files.
ESCROW ANALYSIS WORKSHEET
Due to the RESPA changes that take effect January 1, 2010, we have updated our Escrow Analysis Worksheet. The 2010 Escrow Analysis is now available on the free downloads page or our website.
The changes only affect the "HUD 1/1A Disclosure" section at the top of the worksheet. Due to the new HUD Settlement Statement forms, this disclosure was changed to match the format of the new forms.