Consequences of a Triggering "Higher-Priced" Status?
For lenders avoiding anything "higher-priced" but possibly considering the possibility, here's a summary of the consequences. Some loans...
Exactly when do you calculate High-Cost and HPML tests? (hint: rate lock)
Sometimes we expect a loan in process to qualify as High-Cost, Higher- Priced, Mortgage Loan, or Higher-Priced Covered Transaction. But...
Are we too afraid of HPMLs?
We see a lot of lenders with policies prohibiting the origination of Higher-Priced Mortgage Loans. Lately, we've been asking: Why? HPMLs...