Help please. HPML?

Posted By: 80s Diva

Help please. HPML? - 06/28/12 03:18 PM

My loan officer is doing a closed-end, 12 month, interest-only loan secured by the customer's primary dwelling. The problem is that at application time, this is the customer's primary dwelling. At closing, this will not be the customer's primary dwelling. The primary dwelling is listed "for sale" and the customer will be moving into a long-term care facility in a week. Do we have to consider HPML? Can we treat this as a bridge loan? The customer is planning on paying the loan off with the sell of the home. Your help is appreciated.
Posted By: RR Joker

Re: Help please. HPML? - 06/28/12 03:29 PM

Please don't double post...and welcome to BOL!.

http://www.bankersonline.com/forum/ubbthreads.php?ubb=showflat&Number=1715267#Post1715267
Posted By: 80s Diva

Re: Help please. HPML? - 06/28/12 06:48 PM

Sorry, my computer locked up during the initial posting and I didn't think it posted.