Which of one of the following is a true statement about HOEPA loans? 

HOEPA loans can contain repayment schedules that consolidate more than two regularly scheduled payments that are to be paid in advance from the proceeds of the loan. 

HOEPA loans cannot contain balloon payments for loans with less than five-year terms. Borrowers have five business days to decide whether to sign the loan agreement after they receive the Section 32 disclosures. 

HOEPA loans apply to construction loans, reverse mortgages, and loans that are secured as vacation or second homes

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