J.L.Sherman&Associates,Inc.

The Leader in Loan Quotation and Loan Calculation Software

HOEPA Updates for 2019

Submitted 2018-10-23 11:32:00 -0700

The SCEX is loan calculation software that can be embedded within your own
application, supporting consumer, commercial, and mortgage loan
calculations. The CFPB is adjusting two dollar amounts that are used in the “points and fees” trigger for coverage under HOEPA for calendar year 2019. The two dollar amounts are (1) the loan amount threshold (changing from $21,032 to $21,549), and (2) the total points and fees amount (changing from $1,052 to $1,077). All of our core products have been updated to include these new amounts, ensuring that your organization is compliant with the new year’s values.

For our current customers, these updated amounts are found in the hcm.ini file included with the latest release of the SCEX, eWinLoan, and WinLoan32. If you would like a copy of this updated file for manual installation, please contact us.

This year will see further regulatory changes affecting lending calculations and disclosures. J. L. Sherman & Associates promises to continue to keep you in compliance with whatever regulations affecting the calculations we provide, may come along.