FORUM PROFILE

HELOC Ability to Repay

Home Forums Truth in Lending/ Regulation Z HELOC Ability to Repay

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #4619
    rcooper
    Keymaster

    A question we received from a member:

    I’m trying to find an answer to this question and not finding any concrete answer in Reg Z. I know that HELOCs are not subject to the new “ability to repay” rules. However, are there any regulatory specifications elsewhere in Reg Z for ability to repay HELOCs? I’m not finding it, if there is. Thought I recalled something relative to the credit card act but couldn’t find it.

    #4620
    rcooper
    Keymaster

    I believe you are thinking about the High Cost Mortgage requirement under 1026.34(a)(4)(ii). It is linked here: https://www.ecfr.gov/cgi-bin/text-idx?SID=a73fc1358d918790ff49be8da05ce6f6&node=12:8.0.2.8.18.5.1.5&rgn=div8

    Jack’s Compliance Resource offers many products including policy and procedure updates, Director/Senior Manager Updates, Training Manuals, Flowcharts, Checklists and more. To see our Reg Z products click here:
    Reg Z Marketplace

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.