Effective January 1, 2011, the fee based trigger amount used to calculate if a loan is subject to HOEPA was increased to $592. This is up from the 2010 trigger amount of $579. Due to this change, we have updated our HOEPA Worksheet (Version 2011-1) which is available on the “Free Downloads” page of our website.
If you save a copy of the HOEPA Worksheet on your computer don’t forget to download Version 2011-1. You may still want to keep a copy of Version 2010-1 for auditing purposes.