Effective January 1^st, 2022, the dollar threshold for exempting loans from the special appraisal requirements under the Truth in Lending Act Higher Priced Mortgage Loan Appraisal Rule will increase from $27,200 to $28,500.

Also, effective January 1^st, 2022, the dollar threshold for exempt consumer credit transactions under the Truth in Lending Act and exempt lease transactions under the Consumer Leasing Act will increase from $58,300 to $61,000.

You can read more about each threshold increase at the links below:

CCI suggests sharing this information with your lending department. Please reach out to CCI with any questions regarding these changes.

Sincerely,

Sarah Smith, CRCM, CAFP