The Bureau of Consumer Financial Protection, Federal Reserve Board of Governors, and the Office of the Comptroller of the Currency (the “Agencies”) announced an increase in the exemption threshold for appraisal requirements for higher-priced mortgage loans. Regulation Z contains special appraisal requirements for higher-priced mortgage loans. Currently, higher-priced mortgage loans of $26,000 or less are exempt from the appraisal requirements. Effective January 1, 2019, this threshold will increase to $26,700.
