Here HOPEA, there HOPEA but where have all the HOPEA gone?


Talking about something that died  this stuff stinks from miles away the HOEPA loans?  where the  hell have they gone to?

HOEPA loans these super-high-cost loans which were supposed to qualify for special consumer protections under the Home Owners Equity Protection Act of 1994. Haha the Judges did not rule on these shams, some how they seem to be drag footing on these blatant shams all year long.

Those certain loans which the FED said, haha  the one that directed that the Fed “shall” implement a rule on abusive lending, which the Fed understood to be discretionary until 2008. Suckers did squat, nada, zilch.

I was never able to get or even understand the HMDA data and the garble had previously been a bit of a pain to manipulate to get summary statistics–big data sets with these darn  annoying variable labels.

Haha but now the CFPB has an very well put out on-line HMDA data tool that is a lot of fun to explore.

The CFPB’s created the Rolls-Royce LoPucki-BRD of HMDA data, that must hurt.

It’s a real public service. My only complaint is that the CFPB only has data going back to 2007. Hopefully the Bureau will add in 2005-2006, at least (there was a reporting change in 2004). The Urban Institute also has a nice HMDA data page, but it’s really more for power users.

What ever happened to the HOEPA loans?

HOEPA status was always a kiss of death, but in 2005, there were 35,980 HOEPA loans made. Thats because the Judges hate the laws and I do not know of one suit which caught my attention in all those years of digging up tripe on mortgages.

These bad boy loans have sunk into oblivion and inn 2013, there were just 1,703. That’s a 95% decline in HOEPA lending, the value of homes have dropped so bad.

Why are lenders making loans below this the HOPEA lending level?

So moreover there isa no hope for HOPEA  haha the Judges will be in glee.


About Here and Now

I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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