Regulation Z: HOEPA and Higher-Priced Mortgage Loans (HPML) Requirements and Regulations

Lorman Education Services
Training overview
Professional Course
1 hour

Course description

Regulation Z: HOEPA and Higher-Priced Mortgage Loans (HPML) Requirements and Regulations

Understand the various requirements for loans that meet the HPML definition.

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.

Who should attend?

This live webinar is designed for presidents, vice presidents, branch managers, loan officers, credit and collections managers, loan department personnel, compliance officers, financial counselors, and risk managers.

Training content

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

Certification / Credits

Credits: CPE

Learning Objectives

  • You will be able to define what elements make a loan a HigherPriced Mortgage Loan (HPML).
  • You will be able to describe the specific, unique requirements for HPML loans in areas such as escrow accounts and appraisals.
  • You will be able to explain the realworld implications of the HPML rule, including investor acceptance of and requirements for HPML loans.
  • You will be able to recognize the overlap and interplay of the HPML definition and requirements and the definitions and requirements of the qualified mortgage rule and the highcost mortgage rule.

About Lorman Education Services

Lorman Education Services - Live and On-Demand Courses

Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...

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Contact info

Lorman Education Services

Lorman Education Services
2510 Alpine Road
54702 Eau Claire Wisconsin

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