An NMLS filing review raises a question about HPML requirements. Which action should the renewal specialist recommend?
Correct Answer
D) Apply HPML rules when APR exceeds the applicable APOR threshold
HPML coverage depends on APR-over-APOR thresholds and carries escrow or appraisal duties. The best answer is "Apply HPML rules when APR exceeds the applicable APOR threshold".
Why This Is the Correct Answer
HPML coverage depends on APR-over-APOR thresholds and carries escrow or appraisal duties. The best answer is "Apply HPML rules when APR exceeds the applicable APOR threshold".
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