Refinance HPML w/Rentals-How to Escrow

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Question:

We have a refinance that will be HPML that not only has the customers residence, but also 4 rentals. In calculating the escrow, would we include the 4 rentals?

Answer:

HPML escrow rules only apply to consumer purpose loans secured by the consumer's primary residence. You only need to escrow for the primary the residence.

First published on BankersOnline.com 9/17/12