Higher-Priced Mortgage Loan (HPML)

Higher-Priced Mortgage Loan (HPML)

A First Lien Mortgage secured by a Primary Residence that has an annual percentage rate (APR) of 1.5% or more above the average prime offer rate (APOR) for a comparable transaction as of the rate lock date. APR and APOR are both defined in Regulation Z. The APOR is published at least weekly by the FFIEC and is derived from pricing terms obtained from a survey of prime mortgage lenders. An HPML does not include a second home or Investment Property.