Special Release

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New Threshold Amounts for 2022 under Regulation Z CARD Act, HOEPA and QM Sections

Based on the 4.7% increase in the Consumer Price Index (CPI-W) in effect on June 1, 2021, the Consumer Financial Protection Bureau (CFPB) released a number of new thresholds which go into effect on January 1, 2022. They include: The minimum interest charge disclosure threshold of $1.00 under the CARD Act will remain unchanged. (1026.6(b)(2)(iii) […]

New Threshold Amounts for 2022 under Regulation Z CARD Act, HOEPA and QM Sections Read More »

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Safe Act MLO Registration Renewal Period Starts November 1 – Check Current Registrants’ Names

It’s that time again. The NMLS 2021 Annual Renewal Period began on November 1 and will end December 31. Companies and individuals can prepare by making sure the information on their NMLS record is up to date. During this time, companies can complete their annual attestation that their record is up to date, pay their

Safe Act MLO Registration Renewal Period Starts November 1 – Check Current Registrants’ Names Read More »

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HMDA – Field Reporting Exemption under EGRRCPA – When does a Bank Lose this Exemption?

Under the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRPA), many banks were exempt from reporting all fields on the HMDA LAR as they had originated fewer than 500 closed-end HMDA Reportable loans or fewer than 500 open-end HMDA Reportable loans during the prior calendar year. With the dramatic upturn in production during the

HMDA – Field Reporting Exemption under EGRRCPA – When does a Bank Lose this Exemption? Read More »

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CFPB Issues Changes to Rule on Higher-Priced Mortgage Loan Escrow Exemption

On February 17, 2021, the CFPB published a final rule to implement a requirement of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final rule exempts certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs). The final rule also removed

CFPB Issues Changes to Rule on Higher-Priced Mortgage Loan Escrow Exemption Read More »

regulations book

HMDA and HPML Thresholds Bumped Up for 2021

The Consumer Financial Protection Bureau (CFPB) amended the Home Mortgage Disclosure Act (Regulation C) and the Truth in Lending Act (Regulation Z), adjusting the asset-size exemption thresholds for banks, savings associations, and credit unions. Like the CRA thresholds, the adjustments are pegged to the annual percentage increase in the Consumer Price Index for Urban Wage

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