Section 35 Higher Priced Mortgage Loan – Revised

HomeBridge has updated Bulletin 13-28 issued May 25, 2013 with additional information regarding Higher Priced Mortgage Loans (HPML) to include ARM information and USDA eligibility. A matrix has been provided to identify HPML eligibility by HomeBridge program and product. This Bulletin replaces the Bulletin issued May 25, 2013 in its entirety.

Regulation Z Section 35 defines an HPML as a loan secured by a primary residence where the APR exceeds Freddie Mac’s “average prime offer rate