Higher Priced Mortgage Loans (HPML) - Request

Please see the Legend to understand the conventions used to document each element and attribute. Note that for requests, the XML elements are documented in alphabetical order by parent element.

🟥 <inHPML>

This is the root element of the HPML query input message, and is required. This contains child elements which specify the particulars of the already computed loan which is being examined to see if it is a HPML. The following attributes of the <inHPML> element are defined:

Attributes: 🔹DataDirPath

🔹 DataDirPath

If this attribute is set, the SCE will look for a data folder containing the setup files in the path specified. Thus, if the DataDirPath is set to C:\SCEX\, the SCE will look for the setup files in C:\SCEX\data.

If the calling application wishes to specify the data directory path in its entirety (e.g. the calling app does not want the SCE to append \data to the provided path), then simply terminate the specified DataDirPath with an asterisk (*). Thus, if the DataDirPath is set to C:\SCEX\bank1\*, the SCE will look for the setup files in C:\SCEX\bank1\.

If this attribute is not set, the SCE will attempt to locate the data folder in the default data directory path location, which can be retrieved using the <inVERSION> module query, and set via the SCE API.

This attribute is useful if you wish to use only a single installation of the SCE, but have many different setup file groupings. By specifying a different DataDirPath for each grouping, you can easily separate the groups from one another instead of grouping them all together in a single directory.

🟥 <Lien>

This element itself contains no data. Instead, all of the information used to determine the type of lien is contained in the following attribute of the element:

Attributes: 🔹Jumbo, 🔹Type

🔹 Jumbo

Effective June 1, 2013, first-lien loans that exceed the maximum principal obligation eligible for purchase by Freddie Mac (i.e., a “jumbo” loan) have a rate spread of 2.5% instead of the normal first-lien value of 1.5%.

Note that the value of this attribute will be ignored for subordinate-lien loans.

🔹 Type

The type of lien determines the amount over the APOR at which time a loan’s Regulation Z APR is considered a HPML. For first-lien loans, that value is 1.5% (or 2.5% for first-lien jumbo loans as of 6/01/2013); for subordinate-lien loans, that value is 3.5%.

🟥 <Loan>

This element itself contains no data. Instead, all of the information used to determine the type of loan is contained in the following attribute of the element:

Attributes: 🔹RateType

🔹 RateType

The APOR is looked up in one of two tables, determined by the loan’s rate type. If the loan uses a fixed rate, then the SCEX will look-up the APOR from the YieldTableFixed.txt file. If the loan uses an adjustable rate, then the SCEX will look-up the APOR from the YieldTableAdjustable.txt file.

🟥 <LockInDate>

This element contains the date on which the interest rate of the loan was locked in. All dates must be in the form of YYYY-MM-DD, and be 10 characters long. Hence, a lock in date of December 22, 2009 would be specified as <LockInDate>2009-12-22</LockInDate>.

The lock in date is used to lookup the APOR rate from the appropriate file. Each row of the file begins with a date, and the row which will be used will have a date which is either on the lock in date, or does not precede it by more than 6 days. Since these files are updated weekly, there should never be more than six days between the date of the row used and the specified lock in date.

If the SCEX can not find a row in the APOR file which is appropriate for use with the specified lock in date, then an error message will be returned informing the calling application.

Attributes: None

🟥 <RegZApr>

This element contains the computed Regulation Z APR for the loan we are checking. The Regulation Z APR should be expressed as a percentage. For example, a loan computed with a Reg. Z APR of 5.5% would be specified as <RegZApr>5.5</RegZApr>.

Attributes: None

🟥 <TermInYears>

The <TermInYears> element holds the term of the loan, in whole years. Valid terms range from 1 year to 50 years, inclusive. If the loan’s RateType is adjustable, then the value of this element represents the initial, fixed rate term of the adjustable rate loan.

Attributes: None