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CFPB RIN: 3170-AA68 Publication ID: Spring 2017 
Title: Appraisals for Higher-Priced Mortgage Loans Exemption Threshold 

Section 129H of the Truth in Lending Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, establishes special appraisal requirements for higher-risk mortgages, termed higher-priced mortgage loans or HPMLs.  The CFPB, the Board, the OCC, the FDIC, the NCUA and the FHFA (collectively, the Agencies) issued joint final rules implementing these requirements, effective January 18, 2014.  The Agencies’ rules 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 (CPI-W).  Section 1026.35(c)(2)(ii) of the CFPB’s Regulation Z, 226.43(b)(2) of the Board’s Regulation Z, and 34.203(b)(2) of Subpart G of part 34 of the OCC’s regulations, and their accompanying commentaries, provide that the exemption threshold for smaller loans will be adjusted effective January 1 of each year based on any annual percentage increase in the CPI-W that was in effect on the preceding June 1.  The CFPB, the Board, and the OCC issued a proposal on August 4, 2016, to amend the official interpretations and commentary to explain that the CFPB, the Board, and the OCC will not adjust the exemption threshold from the prior year when there is no annual percentage increase in the CPI-W, and the calculation method for determining the adjustment in years following a year in which there is no annual percentage increase in the CPI-W.  The CFPB will work with the Board and the OCC to issue jointly a final rule. 

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1026   
Legal Authority: 15 U.S.C. 1639h   
Legal Deadline:  None
Action Date FR Cite
NPRM  08/04/2016  81 FR 51394   
NPRM Comment Period End  09/06/2016 
Final Rule  11/30/2016  81 FR 86250   
Final Rule Effective  01/01/2017 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 3170-AA11 
Agency Contact:
Joseph Devlin
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700