HOEPA Permits a Lender to Charge a 5% Fee in the Event

question 25

True/False

HOEPA permits a lender to charge a 5% fee in the event the loan is paid in full ahead of schedule.

---

Definitions:

Adaptive

The quality of being able to adjust to new conditions or environments effectively.

Transferable

Referring to skills, knowledge, or abilities that can be applied in various contexts beyond where they were originally learned.

Job-related

Pertains to aspects or activities directly linked to one's profession or occupation.

Communication

The process of acting on information.