Hayden is training a new MLO on HPML requirements. Which statement is accurate?
Correct Answer
D) Compare APR to APOR as of the rate-set date
HPML coverage depends on APR-over-APOR thresholds and carries escrow or appraisal duties. The best answer is "Compare APR to APOR as of the rate-set date".
Why This Is the Correct Answer
HPML coverage depends on APR-over-APOR thresholds and carries escrow or appraisal duties. The best answer is "Compare APR to APOR as of the rate-set date".
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