The CFPB recently issued a final rule increasing the asset exemption threshold for the Truth in Lending Act (TILA) requirement to maintain an escrow account for a higher-priced mortgage loan (HPML).

Regulation Z, which implements the TILA, generally requires creditors to maintain an escrow account for the payment of taxes and insurance on a first lien HPML.… Continue Reading

The CFPB, Fed, and OCC have announced that they are increasing three exemption thresholds that are subject to annual inflation adjustments.  Effective January 1, 2023 through December 31, 2023, these exemption thresholds are increased as follows:

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The CFPB, Fed, and OCC have published notices in the Federal Register announcing that they are increasing three exemption thresholds that are subject to annual inflation adjustments.  Effective January 1, 2022 through December 31, 2022, these exemption thresholds are increased as follows:

  • Smaller loans exempt from the appraisal requirement for “higher-priced mortgage loans,” increased from $27,200 to $28,500.
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The CFPB, Fed, and OCC have published notices in the Federal Register announcing that they are increasing three exemption thresholds that are subject to annual inflation adjustments. Effective January 1, 2019 through December 31, 2019, these exemption thresholds are increased as follows:

  • Smaller loans exempt from the appraisal requirement for “higher-priced mortgage loans,” increased from $26,000 to $26,7.00
  • Consumer credit transactions exempt from Truth in Lending Act/Regulation Z, increased from $55,800 to $57,200 (but loans secured by real property or personal property used or expected to be used as a consumer’s principal dwelling and private education loans are covered regardless of amount).
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