David Mulkerin

heloc

CFPB Releases Revision to Regulation Z HELOC Booklet

The Consumer Financial Protection Bureau (CFPB) announced the availability of an updated consumer publication, “What You Should Know about Home Equity Lines of Credit,” also known as the HELOC booklet, required by the Truth in Lending Act/Regulation Z (1026.40(e)). The CFPB states this version of the HELOC booklet (dated 8/22) is updated “to align with …

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home mortgage application

HMDA Reporting Threshold Changes Due to Court Ruling

On April 16, 2020, the CFPB released a final rule affecting the thresholds for HMDA reporting. Effective July 1, 2020 the number of closed-end loans originated to be considered a “financial institution” was increased from 25 to 100 for each of the two preceding years for both depository and non-depository institutions. On September 23, 2022, …

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HPML Appraisal & Regulation Z and Regulation M Exemption Dollar Thresholds for 2023

On October 13, 2022 the Federal Reserve Board and the Consumer Financial Protection Bureau jointly issued an increase in the exemption thresholds for Regulation Z and Regulation M exemptions, which are tied to the Consumer Price Index. Loans or leases at or below the thresholds are subject to the protections of the regulations. The regulators …

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