A file escalation asks whether pricing crosses the HPML threshold. What should the file reflect?
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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Previous Question
The branch manager compares the file facts with TILA HPML Rules during a borrower follow-up call. Which conclusion is accurate?
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