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TREAS/OCC RIN: 1557-AD70 Publication ID: Fall 2013 
Title: ●Appraisals for Higher-Priced Mortgage Loans--Supplemental Proposal 
Abstract: The FRB, CFPB, FDIC, FHFA, NCUA, and OCC proposed to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the official interpretation to the regulation. This proposal relates to a final rule issued on January 18, 2013, which goes into effect on January 18, 2014. The final rule implements a provision added to TILA by the Dodd-Frank Wall Street Reform and Consumer Protection Act requiring appraisals for "higher-risk mortgages." For certain mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, the Final Rule requires creditors to obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used. The Agencies are proposing amendments to the Final Rule implementing these requirements; specifically, the Agencies are proposing exemptions from the rules for: transactions secured by existing manufactured homes and not land; certain "streamlined" refinancings; and transactions of $25,000 or less. 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 12 CFR 34   
Legal Authority: 12 USC 1 et seq    12 USC 25b    12 USC 29    12 USC 93a    12 USC 371    12 USC 1463-1465    12 USC 1701j-3    12 USC 1828(o)    12 USC 3331 et seq    12 USC 5101 et seq    12 USC 5412(b)(2)(B)    12 USC 1639h   
Legal Deadline:  None
Action Date FR Cite
NPRM  08/08/2013  78 FR 48548   
NPRM Comment Period End  09/09/2013 
Final Action  12/00/2013 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Charlotte Bahin
Senior Counsel
Department of the Treasury
Comptroller of the Currency
407 7th Street SW.,
Washington, DC 20219
Phone:202 649-6281

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