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On November 13, 2023, 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 (CPI-W) as of June 1. Loans or leases at or below the thresholds are subject to the protections …

HPML Appraisal & Regulation Z and Regulation M Exemption Dollar Thresholds for 2024 Read More »

Due to recent events overseas, there has been recent deployment of US troops with potential additional deployment to happen in the future. Interest rates are higher than they have been in the past; the current Prime Rate is at 8.5%.  All financial institutions should be prepared for Servicemembers enacting their rights under the Servicemembers Civil …

Deployment of Servicemembers Read More »

So, the Government may shut down. Again. This has happened before and will likely happen again. When this happens, one of the many “non-essential” services and programs is the National Flood Insurance Program (NFIP). So, what do we do if/when a shutdown happens? If there is a disruption to the NFIP, we should be prepared …

In a Government Shutdown the National Flood Insurance Program Could be Affected Read More »

Based on the 4.6% increase in the Consumer Price Index (CPI-W) in effect on June 1, 2023, the Consumer Financial Protection Bureau (CFPB) released a number of new thresholds which go into effect on January 1, 2024. They include: Additionally, these changes affected the HOEPA threshold amounts found under 1026.32 based on the 4.9% increase …

New Threshold Amounts for 2024 under Regulation Z CARD Act, HOEPA and QM Sections Read More »

If you are not regulated by the NCUA then you can skip to the end of this Special Release.  If you are regulated by the NCUA, then you need to know the CFPB amended some addresses in Regulation B, Regulation V and a website referencing Regulation Z APR Table. The August 25, 2023  Federal Register  …

NCUA Updated Address for Adverse Actions Read More »