Section 32 (HOEPA)
The Division of Banking and Financial Institutions response to regarding Section 32 (HOEPA). There is nothing specific to the Home Ownership and Equity Protection Act (HOEPA) relative to the Montana Mortgage Broker and Loan Originator Licensing Act. The requirements set forth by HOEPA are covered under federal law. If a loan is covered under HOEPA there are restrictions regarding pre-payment penalties. The following webpage to be helpful in understanding requirements of HOEPA.
