certain mortgages

What Is The HPML Appraisal Rule?

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What Is The HPML Appraisal Rule? The HPML Appraisal Rule applies to first-lien or subordinate-lien HPMLs that are closed-end and secured by the consumer’s principal dwelling. … It is a subordinate-lien mortgage with an APR that exceeds the APOR published by the CFPB at the time the APR is set by 3.5 percentage points or

What Type Of Mortgage Adjusts The Interest Rate?

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What Type Of Mortgage Adjusts The Interest Rate? An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that the monthly payments can go up or down throughout the life of the loan. Generally, the initial interest rate is lower than that of a comparable fixed-rate