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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Escrows on Higher-Priced Mortgages Required HPML escrow on two loans?
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#2156723 - 12/09/17 04:40 PM Required HPML escrow on two loans?
Always In Training Offline
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Joined: Jul 2006
Posts: 1,115
Where the Green Grass Grows
Borrower bought a home a few years ago. It was an HPML, we haven't reached the end of 5 years. He recently lost his wife and wants to downsize and move closer to family. He has another home in mind, but won't be selling/paying off the 1st loan. So, he's applied for a new loan to purchase a primary dwelling. The ATR is there, I'm not worried about that, but the new loan will also be an HPML. He'll have to escrow on this home loan too - won't he?

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Escrows on Higher-Priced Mortgages
#2156727 - 12/10/17 01:47 PM Re: Required HPML escrow on two loans? Always In Training
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
Yes on the new loan as it will be his principal dwelling.
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