Skip to main content

Agencies Issue Proposal to Exempt Certain HPML Loans from TILA Appraisal Requirements

On January 18, 2013, the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, and the Office of the Comptroller of the Currency (“the Agencies”)  issued a final rule implementing the new Dodd-Frank Act appraisal requirements for higher-priced mortgage loans.  On July 10, 2013, the Agencies issued a proposed rule to provide that three types of HPMLs would be exempt from the Dodd-Frank appraisal requirements.

SOLUTIONS THAT WORK. TECHNOLOGY TO STAY COMPLIANT.