HOEPA Updates for 2024
The CFPB is
adjusting two dollar amounts that are used in the “points and fees” trigger for
coverage under HOEPA for calendar year 2024. The two dollar amounts are (1) the
loan amount threshold (changing from $24,866 to $26,092), and (2) the total
points and fees amount (changing from $1,243 to $1,305). All of our core
products have been updated to include these new amounts in the October release.
For our current customers, these updated amounts will be found in the hcm.ini
file included with the October 2023 release of the SCE API
Server, SCEX,
eWinLoan, and WinLoan32. If you would
like a copy of this updated file for manual installation, please contact
us.