Bankowość · 30/10/2019

OCC, Board, and Bureau Finalize Amendments to Higher-Priced Mortgage Loans Exemption Threshold

The Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and the Consumer Financial Protection Bureau (CFPB) are finalizing changes to their regulations regarding special appraisal requirements for higher-priced mortgage loans, also known as 'higher-risk mortgages.' The changes will exempt loans of $25,000 or less from these requirements, with the exemption amount adjusted annually based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).