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Tag Archives: appraisals

Federal financial regulatory agencies propose appraisal requirement exemptions for certain higher-priced mortgage loans

Posted in CFPB General, CFPB Rulemaking, Mortgages

The CFPB, Federal Reserve Board, FDIC, FHFA, NCUA, and OCC published in the Federal Register on August 8, 2013 proposed rules creating several exemptions to the appraisal requirements for higher-priced mortgage loans. Most notably, the proposed rule creates an exemption for certain refinances with characteristics common to “streamlined” refinances. To be exempt from the appraisal… More >

CFPB issues final rules on mortgage servicing, appraisals and loan originator compensation

Posted in Mortgages

The regulatory barrage continued last week with the CFPB issuing the last batch of mortgage-related rules it was required to finalize by the Dodd-Frank Act’s January 21 deadline.    On January 17, the final rules implementing provisions of the Dodd-Frank Act that relate to mortgage servicing were issued. The servicing rules will take effect on January… More >

CFPB issues two mortgage appraisal proposals

Posted in CFPB Rulemaking, Mortgages

The CFPB has issued two new proposals dealing with mortgage appraisals that implement provisions of the Dodd-Frank Act.  One of the proposals would amend Regulation B (Equal Credit Opportunity Act) to require lenders to provide to a first lien mortgage applicant a copy of all written appraisals and valuations developed in connection the application.  The lender… More >