Experts Note Lender Liabilities Under New HOEPA Regulations
October 6, 2008
The newly expanded consumer protection regulations under the Home Ownership and Equity Protection Act increase the likelihood of class-action lawsuits and enforcement actions by state attorneys general and monetary penalties for lenders, according to compliance experts. Even though the rules won’t take effect until Oct. 1 next year, lenders may already be vulnerable to third-party...