We price our loans based on the "calculator" because we are not set up to service HPML loans and provide the periodic statements. With that said, here is our question:
We made a loan 5/1 ARM loan August 2014 with a rate below the calculator rate. We have since discovered that at time of first rate change in August 2019, its looking like the rate change will put us over the rate for HPML loans. What's the best option to handle this situation?