Posted By: Adam F
Question concerning points and fees for HOEPA - 07/10/14 05:14 PM
Two questions:
Is the cost of life of loan for flood insurance included in the points and fee test for HCMLs and QMs?
If the loan is a HCML, are we prohibited from paying the life of loan fee with loan proceeds?
Thanks in advance for any help you can give me.
Is the cost of life of loan for flood insurance included in the points and fee test for HCMLs and QMs?
If the loan is a HCML, are we prohibited from paying the life of loan fee with loan proceeds?
Thanks in advance for any help you can give me.