Finance
HOEPA (Home Ownership and Equity Protection Act) protects borrowers from:
AStandard market-rate mortgages
BHigh-cost mortgage loans with above-market rates and fees✓ Correct
CAll forms of mortgage lending
DOnly commercial loans
Explanation
HOEPA (part of TILA) applies to high-cost mortgages that exceed certain rate or fee thresholds, requiring additional disclosures and prohibiting certain abusive terms like balloon payments on short-term loans.
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