Notice of Proposed Rulemaking on Appraisal Requirements for

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Notice of Proposed Rulemaking on Appraisal Requirements for Higher-Risk Mortgages
FIL-36-2012
August 16, 2012






Summary:On August 15, 2012, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the National Credit Union Administration, and the Office of the Comptroller of the Currency issued the attached Notice of Proposed Rulemaking (NPR) and request for comment on a proposed rule to implement the appraisal requirements for higher-risk mortgages of Section 1471 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 1471 adds a new Section 129H to the Truth in Lending Act.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: The NPR would apply to all institutions that originate higher-risk mortgages, as defined in the NPR.


Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Complete Financial Institution Letter: http://www.fdic.gov/news/news/financial ... 12036.html