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#1715296 - 06/28/12 03:18 PM Help please. HPML?
80s Diva Offline
New Poster
Joined: Aug 2007
Posts: 5
Kansas
My loan officer is doing a closed-end, 12 month, interest-only loan secured by the customer's primary dwelling. The problem is that at application time, this is the customer's primary dwelling. At closing, this will not be the customer's primary dwelling. The primary dwelling is listed "for sale" and the customer will be moving into a long-term care facility in a week. Do we have to consider HPML? Can we treat this as a bridge loan? The customer is planning on paying the loan off with the sell of the home. Your help is appreciated.

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Lending Compliance
#1715310 - 06/28/12 03:29 PM Re: Help please. HPML? 80s Diva
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
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#1715517 - 06/28/12 06:48 PM Re: Help please. HPML? 80s Diva
80s Diva Offline
New Poster
Joined: Aug 2007
Posts: 5
Kansas
Sorry, my computer locked up during the initial posting and I didn't think it posted.

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