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TREAS/OCC RIN: 1557-AF13 Publication ID: Fall 2021 
Title: ●Higher-Priced Mortgage Loan Appraisals--Annual Threshold Adjustment 
Abstract:

The OCC, FRB, and the CFPB finalized amendments to the official interpretations for their regulations that implement section 129H of the Truth in Lending Act (TILA). Section 129H of TILA establishes special appraisal requirements for "higher-risk mortgages," termed "higher-priced mortgage loans" or "HPMLs" in the agencies' regulations. The agencies jointly issued 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 (CPIW). If there is no annual percentage increase in the CPIW, the OCC, FRB, and the CFPB will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage increase in the CPIW to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPIW had been taken into account. 

 
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. 1462a    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.    15 U.S.C. 1639h   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Final Rule  11/00/2021 
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