Bankowość · 09/11/2017

OCC, Board, and Bureau Finalize Amendments to Higher-Priced Mortgage Loan Appraisal Requirements

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-risk mortgages' with loan amounts above $25,000, which are exempt from these requirements if the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) does not increase annually.