Compliance: CFPB announces 2018 Reg Z thresholds

ronplzeq

first_img 27SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » The Consumer Financial Protection Bureau (CFPB) announced 2018 thresholds applicable under Regulation Z last week. The bureau is required  to adjust on an annual basis certain thresholds under Regulation Z.These changes will be effective Jan. 1.Requirements for High-Cost MortgagesA loan can be classified as a high-cost mortgage based on 1 of 3 independent triggers, including the points and fees charged in connection with the transaction.Starting Jan. 1, a loan will be classified as high-cost if the total points and fees charged in connection with the transaction exceed:5% of the loan amount for loans greater than $21,032; orFor loans of less than $21,032, the lesser of 8% of the loan amount or $1,052last_img read more