The CFPB, the Federal Reserve Board and the Office of the Comptroller of the Currency (collectively, the "agencies") stated that the threshold for exempting certain loans will increase in 2020.
The agencies will raise the threshold from $26,700 to $27,200 for exempting loans from special appraisal requirements for "higher-priced mortgage loans" beginning on January 1, 2020. The agencies noted that the threshold is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (or "CPI-W") annual percentage increase.
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