The Regulation Z Higher-Priced Mortgage Loan (HPML) rule imposes numerous detailed, specific, and often operationally-burdensome requirements on defined higher-priced mortgage loans.

These requirements require significant operational and compliance oversight and can invoke secondary market investors and other requirements. While the HPML rule has been in place for several years, the myriad details and impacts of this rule warrant complete refresher updates for all persons who deal with the issue, as well as thorough training for new employees.

This course will help those working in underwriting and loan origination activities, and all those responsible for adherence to and oversight of HPML requirements, to understand the definition of HPML and what loans meet the definition; as well as the various requirements for loans that meet the HPML definition, such as when escrow accounts must be utilized, and the appraisal requirements specific to HPMLs.

The course will also help you understand what regulators and agencies can enforce the HPML rule and possible penalties for violations. Finally, you will learn about some of the interplays between the HPML rule and investor requirements and how the HPML rule overlays and interacts with the qualified mortgage rule and the high-cost mortgage rule.What You'll Learn:How Do the Higher-Priced Mortgage Loan Rule (HPML), the Qualified Mortgage Rule, and the High-Cost Mortgage Rule Overlap and Connect With One Another?

• Introduction
  
• How Do the High-Cost Mortgage, HPML, and QM Requirements Interact?
  
• How Are the High-Cost Mortgage Rule's Definitions and Requirements Different Than HPML's?
  
• What Is the Interplay Between the Higher-Cost Loan Rule and the HPML Rule?

High-Cost Mortgages

• What Does the High-Cost Mortgage Rule Do?
  
• What Loans Are Covered by the High-Cost Mortgage Rule
  
• Points and Fees Determination
  
• Key Provisions Regarding Disclosures
  
• Key Provisions Regarding Limitations and Prohibitions

Higher-Priced Mortgage Loans

• What Does the HPML Rule Do?
  
• What Loans Are Covered?
  
• Escrow Requirements
  
• Property Taxes
  
• What Types of Insurance? Exceptions?
  
• Appraisal Requirements
  
• Exceptions
  
• Requirements and Safe Harbor
  
• Requirements for a Second Appraisal
  
• Provision of Copies

Other Issues

• Structuring Transactions to Avoid High-Cost Loan and HPML Rules
  
• Who Can Enforce These Rules?
  
• What Are the Potential Penalties for Violating These Rules?
  
• Secondary Market Issues If There Are Violations?