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#2187727 - 08/02/18 01:56 PM Just reconfirming: Bridge loans exempt from HPML
BSAguy Offline
Gold Star
Joined: Aug 2007
Posts: 298
Kansas
I know this has been asked before, but the threads I saw said that bridge loans are exempt from the escrow and appraisal requirements but not the underwriting requirements. Doesn't 12 CFR 1026.35(e)(3) exempt bridge loans from the underwriting requirements? I believe it does, but it just makes me nervous telling our loan department that they can charge rates that exceed the HPML threshold on 12 month bridge loans.

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#2187730 - 08/02/18 02:06 PM Re: Just reconfirming: Bridge loans exempt from HPML BSAguy
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
12 CFR 1026.35(e)(4) Sunset of requirements on repayment ability and prepayment penalties. The requirements described in this paragraph (e) shall expire at 11:59 p.m. on January 9, 2014.
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