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TREAS/OCC RIN: 1557-AE08 Publication ID: Fall 2016 
Title: ●Appraisals for Higher-Priced Mortgage Loans Exemption Threshold 
Abstract:

The OCC, the FRB, and the CFPB issued a proposed rule amending the official interpretations for their regulations that implement section 129H of the Truth in Lending Act, which establishes special appraisal requirements for higher-risk mortgages.” The banking agencies, the CFPB, the NCUA and the FHFA issued joint final rules implementing these requirements, which exempted, among other loan types, transactions of $25,000 or less, and required that this loan amount be adjusted annually based on any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPIW).  If there is no annual percentage increase in the CPIW, the OCC, the FRB and the CFPB will not adjust this exemption threshold from the prior year. The proposal would memorialize this as well as the calculation method for determining the adjustment in years following a year in which there is no annual percentage increase in the CPIW. 

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
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 U.S.C. 1 et seq.    12 U.S.C. 25b    12 U.S.C. 29    12 U.S.C. 93a    12 U.S.C. 371    12 U.S.C. 1463    12 U.S.C. 1464    12 U.S.C. 1465    12 U.S.C. 1701j-3    12 U.S.C. 1828(o)    12 U.S.C. 3331 et seq.    12 U.S.C. 5101 et seq.    12 U.S.C. 5412(b)(2)(b)    15 U.S.C. 1639h   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/04/2016  81 FR 51394   
NPRM Comment Period End  09/06/2016 
Final Rule  11/00/2016 
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:
MaryAnn Nash
Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW,
Washington, DC 20219
Phone:202 649-6287
Email: maryann.nash@occ.treas.gov