High priced mortgage loan worksheet
[PDF File]Higher Priced Mortgage Loan Workflow & FAQ
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Reduce the APR below the HPML threshold by increasing the loan amount. Done. Higher Priced Mortgage Loan Workflow & FAQ. Contact the Branch Relations Department if you have any questions on handling an HPML loan. Please contact them at 714-831-4334 or branchrelations@afncorp.com
[PDF File]HIGHER PRICED MORTGAGE LOAN (“HPML”) INFORMATION
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Higher-Priced Mortgage Loan if the Annual Percentage Rate (”APR”) for the mortgage loan is higher than the Average Prime Offer Rate (“APOR”) as indicated below: • First Lien Mortgage Conforming Loans is a HPML if the APR is higher than 1.5% above the APOR.
[PDF File]Anti-Predatory Lending Requirements - Freddie Mac
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Higher-Priced Mortgage Loans (Guide Section 4202.5) Freddie Mac will purchase a Higher-Priced Mortgage Loan (HPML) and Higher-Priced Covered Transaction (HPCT). A HMPL and HPCT are first-lien mortgages secured by a Primary Residence that has an annual percentage rate (APR) of 1.5% or more above the
[PDF File]Higher Priced Mortgage Loan - BankersOnline
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Higher Priced Mortgage Loan . Checklist and Worksheet . Application Date Officer Borrower Name Note # Interest Rate/APR Information . Lock-in/Approval Date “Average Prime Offer Rates” Tables “Average Prime Offer Rates- Fixed”
[PDF File]HIGHER PRICED MORTGAGE LOAN (“HPML”) DISCLOSURE
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A mortgage is considered a Higher-Priced Mortgage Loan (“HPML”) if the APR is a certain percentage higher than the Average Prime Offer Rate (“APOR”) based on the following loan types: • First Lien Mortgage Conforming Loans is a HPML if the APR is …
[PDF File]What the new high cost mortgage protections mean for …
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WHAT THE NEW HIGH-COST MORTGAGE PROTECTIONS ME AN FOR CONSUMERS, JANUARY 2013. Goodbye to troubling loan features . HOEPA also limits or bans some loan features for high-cost mortgages. For example, if you have a high-cost mortgage, lenders can no longer add many kinds of fees and charges to the
[PDF File]Explaining QM in 5 minutes or less………
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• With FHA, we are allowed to have a higher priced mortgage loan (HPML) so long as the loan passes the FHA Safe Harbor Test. • In this instance, the loan can fail the HPML Test and still be QM Safe Harbor. • A full appraisal (interior and exterior) is required to be completed by a licensed and certified appraiser.
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