How Do You Calculate Hpml
For First Liens, Add 1.5 % to the Listed Index If the Loan Was Locked in (Or Re-Locked) During the Week Following the Date. for Example, If Your Apr Is 7.09...
For first liens, add 1.5 % to the listed index if the loan was locked in (or re-locked) during the week following the date. For example, if your APR is 7.09 and you subtract 1.5 your answer is 5.59. If your answer is higher than the posted index, which is currently 5.09 your loan is classified as an HPML.
How do you calculate rate spread?
Rate Spread is calculated by taking the difference between Potential Average Double Rate and Potential Average Single Rate.
How is APOR calculated?
Average Prime Offer Rate is based on average interest rates, fees, and other terms on prime mortgages. Prime mortgages are loans that are to highly qualified borrowers. FFIEC calculates APOR by using the data obtained from multiple sources which includes: Freddie Mac’s Primary Mortgage Market Survey (PMMS).
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