HOEPA Worksheet Correction
By Amy Kudlacek
We recently discovered a technical error on our 2009 HOEPA Worksheet. We are alerting you and ask that you pass this information on to anyone in your institution that uses this Worksheet. We know many institutions either download the worksheet to a shared drive or have their lenders download the worksheet directly to their desktops. So, it is important that any existing copies are replaced with a corrected version.
The error we discovered in no way affects the HOEPA calculation page. Rather, it only affects the HOEPA disclosure on the second tab. The disclosure did not recognize when optional credit insurance was included as part of the loan.
We have corrected the 2009 HOEPA Worksheet on our website and it is now available on our "downloads" page.
We apologize for any inconvenience.