Do you make high priced mortgage loans (HPMLs)?
While that term seems to indicate they’re a bad thing, in reality they really aren’t. HPMLs just carry a little more baggage than other types of loans you may make. For instance, if you originate a first-lien HPML, you are required to escrow for taxes and insurance. That’s just one of the several things you need to be aware of if you make an HPML.
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Jerod explains the other things you need to consider in the video.
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Published
2021/03/31