HPML applicable to FHA loans?

1) I seem to recall that FHA loans were granted an exemption under HPML because the APR will exceed the APOR in almost all instances primarily due to life-of-loan MIP? Is that correct? If yes, please provide a reference source.

2) Which reg imposes a limit on closing costs to not exceed 5% of the mortgage amount?

Thank you.

Bump!

1) Exemption - No. See: http://portal.hud.gov/hudportal/documents/huddoc?id=FrDesCarGalaJun2013_Final.pdf

2) You are most likely referring to the points and fees test for a high cost mortgage.

http://www.bankersonline.com/regs/12-1026/12-1026-032.html