Household Caps Loan Fees, Extends Rescission Period
March 18, 2002
Household International has expanded its 2001 best practices commitment by lowering its loan origination fees and extending its rescission period from three to 10 days. Under a new “100 percent satisfaction guaranteed” policy, Household has capped its origination fees at 3 percent and allowed customers to cancel their loans within 10 days of closing, at no cost.