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#2203282 - 01/17/19 03:36 PM HPML Exemption question
PRiv#6 Offline
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PRiv#6
Joined: Nov 2004
Posts: 2,544
Anywhere I want to be
I need some clarification related to some of the HPML exemptions. One of the exemptions states "A temporary or “bridge” loan with a loan term of twelve months or less, such as a loan to purchase a new dwelling where the consumer plans to sell a current dwelling within twelve months". If the loan is paid in full once the consumer sells the house, will this still meet the requirements for "temporary or bridge"? I'm assuming it probably would, but I want to make sure I understand it correctly.

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#2203303 - 01/17/19 06:04 PM Re: HPML Exemption question PRiv#6
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,605
Galveston, TX
Sounds like a typical bridge loan to me.
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