Appraisals for Higher-Risk Mortgage Loans

12 organizations filed 13 public comments on Appraisals for Higher-Risk Mortgage Loans, at the Office of the Comptroller of the Currency. The comment window closed 5013d ago.

Abstract

The Board, Bureau, FDIC, FHFA, NCUA, and OCC (collectively, the Agencies) are proposing to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the official interpretation to the regulation. The proposed revisions to Regulation Z would implement a new TILA provision requiring appraisals for ``higher-risk mortgages'' that was added to TILA as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. For mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, the proposed rule would require creditors to obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used.

Commenters (12)

• Manufactured Housing Institutetrade assoc.

  2 filings · confidence 85%
• 21st Mortgage Corporationunverified attribution

  1 filing · confidence 70%
• Access National Bankunverified attribution

  1 filing · confidence 70%
• American Bankers Associationtrade assoc.

  1 filing · confidence 97%
• Central Mortgage Companyunverified attribution

  1 filing · confidence 70%
• Community National Bank & Trustunverified attribution

  1 filing · confidence 70%
• Junction National Bankunverified attribution

  1 filing · confidence 70%
• Kansas Bankers Associationtrade assoc.

  1 filing · confidence 85%
• Mortgage Bankers Associationtrade assoc.

  1 filing · confidence 97%
• National Association of Home Builderstrade assoc.

  1 filing · confidence 97%
• National Association of REALTORStrade assoc.

  1 filing · confidence 85%
• Texas Manufactured Housing Associationtrade assoc.

  1 filing · confidence 85%