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Fed Announces Higher-Priced Mortgage Threshold for 2015
Monday, January 5, 2015 6:45 AM

The Federal Reserve Board has announced that the 2015 adjustment of the dollar amount used to determine whether a small loan is exempt from special appraisal requirements applied to higher-priced mortgage loans will be $25,500, effective Jan. 1.

The adjustment is based on the annual percentage increase in the Consumer Price Index for urban wage earners and clerical workers as of June 1.

Federal regulators issued rules implementing this requirement in January 2014, which contained an exemption for loans of $25,000 or less. The rules also required the exemption threshold be adjusted annually based on the annual percentage change reflected in the Consumer Price Index.