On October 30, 2019 the CFPB published in the Federal Register final rules increasing the dollar amount of the Regulation Z exemption threshold outlined in 12 CFR § 1026.3(b)(1)(i) from $57,200 to $58,300 (see 84 FR 58020 ; available at: https://www.federalregister.gov/documents/2019/10/30/2019-21557/truth-in-lending-regulation-z).
Also on the same date, the CFPB (as well as other Federal agencies who have similar rules) published final (joint) rules increasing the dollar amount used to determine if a higher-priced mortgage loan is a higher-risk mortgage (see https://compliance.docutech.com/2017/01/11/understanding-higher-risk-mortgages/) from $26,700 to $27,200 under 12 CFR § 1026.35(c)(2)(ii) (see 84 FR 58013 ; available at: https://www.federalregister.gov/documents/2019/10/30/2019-21559/appraisals-for-higher-priced-mortgage-loans-exemption-threshold). These increases take effect on January 1, 2020.
We are currently reviewing these changes to determine any impact to our document library and/or systems and evaluating any necessary changes. Any modifications we make will be announced on our website (https://compliance.docutech.com/).