The Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency issued a final rule and interpretation announcing that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2018 will increase from $25,500 to $26,000. The new threshold, which is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (“CPI-W”), will become effective on January 1, 2018.
