The Federal Reserve Board, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency issued a final rule and interpretations on threshold exemptions from special appraisal requirements for higher-priced mortgage loan transactions. The new rule increases the threshold for exempting loans from special appraisal requirements from $26,000 to $26,700. The new threshold, which is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, will become effective on January 1, 2019.
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