Common use of High Cost Loans Clause in Contracts

High Cost Loans. No Mortgage Loan is (a) subject to the provisions of the Homeownership and Equity Protection Act of 1994 as amended (“HOEPA”), (b) a “high cost” mortgage loan, “covered” mortgage loan or “predatory” or “abusive” mortgage loan or any other comparable term, no matter how defined, under any federal, state or local law including, without limitation, Section 6-L of the New York Banking Law or (c) subject to any comparable federal, state or local statutes or regulations, including, without limitation, the provisions of the Georgia Fair Lending Act, the City of Oakland, California Anti-Predatory Lending Ordinance No. 12361 or any other statute or regulation providing assignee liability or enhanced regulatory scrutiny to holders of such mortgage loans. The total combined points and fees charged in connection wit the origination of the Mortgage Loan does not exceed 5% of the original principal balance of the Mortgage Loan;

High Cost Loans. No Mortgage Loan is (a) subject to the provisions of the Homeownership and Equity Protection Act of 1994 as amended (“HOEPA”), (b) a “high cost” mortgage loan, “covered” mortgage loan or “predatory” or “abusive” mortgage loan or any other comparable term, no matter how defined, under any federal, state or local law including, without limitation, Section 6-L of the New York Banking Law or (c) subject to any comparable federal, state or local statutes or regulations, including, without limitation, the provisions of the Georgia Fair Lending Act, the City of Oakland, California Anti-Predatory Lending Ordinance No. 12361 or any other statute or regulation providing assignee liability or enhanced regulatory scrutiny to holders of such mortgage loans. The total combined points and fees charged in connection wit with the origination of the Mortgage Loan does not exceed 5% of the original principal balance of the Mortgage Loan;