Topic Options
#2156723 - 12/09/17 11:40 AM Required HPML escrow on two loans?
Always In Training Offline
Diamond Poster

Registered: 07/11/06
Posts: 1046
Loc: 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?

Top
Escrows on Higher-Priced Mortgages
#2156727 - 12/10/17 08:47 AM Re: Required HPML escrow on two loans? [Re: Always In Training]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 65837
Loc: Galveston, TX
Yes on the new loan as it will be his principal dwelling.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Top