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Tagged: HELOC, repayment period

This topic has 1 reply, 2 voices, and was last updated 10 years, 4 months ago by rcooper.

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February 27, 2015 at 8:10 am EST #6714

mdunker
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We are in the process of looking to change our HELOC’s from a draw only to a draw with a repayment period as well. What we need to do know is what compliance ramifications will this have if we do this. We would also like to know how others have these set structured.
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March 2, 2015 at 3:53 pm EST #6722

rcooper
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Take a look at 1026.40, specifically 1026.40(d)(5) and its commentary for guidance.
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