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 Reviews / Baseline Compliance Reviews / Higher-Priced Mortgages (Section 35)
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Higher-Priced Mortgages (Section 35)

Mavent calculates thresholds and ensures critical regulatory requirements are met with respect to the Federal Higher Priced Mortgages and State Higher Rate Mortgages.

Higher-Priced Mortgages (Section 35)

Mavent calculates the higher priced mortgage thresholds as defined in 12 C.F.R. § 226.35(a)(1) to determine if a loan is considered a higher-priced mortgage.  These provisions will apply to loans with an application date on or after October 1, 2009.  If the transaction is considered a Federal Higher Priced Mortgage, Mavent will perform an analysis of the following loan terms to determine whether they are prohibited practices:

  • Prepayment Penalties
  • Borrower's Ability to Repay (Enterprise Rule Option)

Mavent also analyzes loans for compliance with state laws and regulations governing higher-rate, higher-risk, higher-priced, subprime, nonprime, and rate spread and similarly classified loans. Please see the description of Mavent's State Consumer Credit reviewer for more informaiton.