Agencies Adjust Appraisal Exemption Threshold for HPMLs

A final rule issued by the CFPB, the Federal Reserve, and the OCC took effect on January 1, 2022.  The rule adjusts the dollar threshold below which loans are exempt from the special appraisal requirements generally applicable to higher-priced mortgage loans contained in (among other regulations) Regulation Z.  The new exemption threshold is $28,500.