Just reconfirming: Bridge loans exempt from HPML

I know this has been asked before, but the threads I saw said that bridge loans are exempt from the escrow and appraisal requirements but not the underwriting requirements. Doesn't 12 CFR 1026.35(e)(3) exempt bridge loans from the underwriting requirements? I believe it does, but it just makes me nervous telling our loan department that they can charge rates that exceed the HPML threshold on 12 month bridge loans.

12 CFR 1026.35(e)(4) Sunset of requirements on repayment ability and prepayment penalties. The requirements described in this paragraph (e) shall expire at 11:59 p.m. on January 9, 2014.