Eligibility Reminder: Higher Priced Mortgage Loan (HPML)

The recent changes in annual FHA MIP, as noted in HUD Mortgagee Letter 2013-04, may affect the eligibility of loans submitted to Gateway Mortgage Group for purchase.  As a reminder, Gateway will not purchase a Higher Priced Mortgage Loan (HPML), as defined in Regulation Z.  For reference, Average Prime Offer Rate (APOR) tables may be accessed here: https://www.ffiec.gov/ratespread/aportables.htm

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