United States:
Agencies Increase Exemption Threshold On Loan Appraisal Requirements
12 November 2019
Cadwalader, Wickersham & Taft LLP
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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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