Exam (elaborations)
MLO Test Review | 75 Questions with 100% Correct Answers | Verified | Latest Update 2024
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Higher priced Mortgage Loans (HPML) are defined as closed-end residential mortgage loans secured by the consumer's principal dwelling with an APR that exceeds the average offer rate (APOR) for comparable transactions by - 2.5 percentage points for a first lien jumbo residential mortgage loan. An...
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