Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Dodd-Frank Final Rules Discussions Ability to Repay/Qualified Mortgage Rule HPML = QM?
Thread Options
#2194737 - 10/04/18 07:20 PM HPML = QM?
ComplyCycle Offline
Gold Star
ComplyCycle
Joined: Dec 2014
Posts: 454
My apologies if this has been asked previously, but I cannot find a straight answer as to whether or not a HPML is a QM if we don't qualify for either the small creditor or balloon loan exemption? Thank you.

Return to Top
Ability to Repay/Qualified Mortgage Rule
#2194742 - 10/04/18 07:40 PM Re: HPML = QM? ComplyCycle
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
It can be if it meets the other QM qualifications, but it is going to only come with a presumption of compliance.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2194744 - 10/04/18 07:48 PM Re: HPML = QM? ComplyCycle
ComplyCycle Offline
Gold Star
ComplyCycle
Joined: Dec 2014
Posts: 454
Got it. Thank you!

Return to Top
#2197102 - 11/01/18 07:14 PM Re: HPML = QM? ComplyCycle
Doin it Right Offline
Junior Member
Joined: Apr 2017
Posts: 35
So, if a loan will be an HPML but is a QM, what valuation rules apply?

Return to Top
#2197135 - 11/01/18 09:07 PM Re: HPML = QM? ComplyCycle
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Valuation of what?
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top