Using the subject line of your post as an indicator of which rule you're concerned about, if the loan meets the HPML definition, the HPML appraisal rule would apply unless the loan fits one of the several exemptions from that rule. One of the exemptions reads: "A loan with maturity of 12 months or less, if the purpose of the loan is a 'bridge' loan connected with the acquisition of a dwelling intended to become the consumer's principal dwelling."
If your loan fits that exemption (or any of the other exemptions under 1026.35(c)(2)), the HPML appraisal rule won't apply. Whether an outside appraisal would be required under other requirements will depend upon the circumstances of the transaction and your bank's loan policy.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8