The Indiana Department of Financial Institutions recently published adjusted dollar amounts under Title 750, Article 1 of the Indiana Uniform Consumer Credit Code. The dollar amounts are required to be periodically adjusted by IC 24-4.5-1.106, by January 1 of odd-numbered years. The loan amount threshold for the Indiana high cost points and fees test is being updated. The threshold amount for a high cost home loan, under IC 24-9-2-8, will increase from $56,000 to $60,000.
DocMagic is updating its systems effective January 1, 2025, to reflect the newly published threshold for the Indiana high cost points and fees test. The complete list of IUCCC adjusted dollar amount can be seen here.
If you have any additional questions about the information presented in this article, please contact DocMagic’s Compliance Department.
