I’m not sure there is enough info to answer this.
1. i.e. If it is a 5/1 arm are you already in the “1”? Is the rate going down?
2. Or, is this the original loan and you’re concerned about the stipulations of the way the note was approved by the lender?
I can’t think of any violations off the top of my head for HPML’s with a lower rate than what you had initially. HPML handles: verification of the ability to repay the debt, no prepayment penalties on the note or TIL and mandatory escrow for 1 yr if the loan is in fact a HPML.
Sorry if that still doesn’t make any sense.. I’m sure it wasn’t too helpful either.