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Home > News & Events > Press Releases

Press Release
December 23, 2014

Federal Reserve Board announces appraisals for
Higher-Priced Mortgage Loans exemption
threshold adjustment
For release at 10:00 a.m. EST
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The Federal Reserve Board on Tuesday announced the annual
adjustment of the dollar amount used to determine whether a small loan
is exempt from the special appraisal requirements that apply to higherpriced mortgage loans.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of
2010 amended the Truth in Lending Act to require creditors to obtain a
written appraisal based on a physical visit of the home's interior before
making a higher-priced mortgage loan. The rules implementing this
requirement contain an exemption for loans of $25,000 or less and also
provide that the exemption threshold will be adjusted annually based on
the annual percentage change reflected in the Consumer Price Index.
The exemption threshold is being adjusted to $25,500, effective January
1, 2015, based on the annual percentage increase in the Consumer
Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as of
June 1, 2014.
The Federal Register notice is attached.
Federal Register notice: HTML | PDF
For media inquiries, call 202-452-2955.

Last Update: December 23, 2014

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