Regulators Target Appraisals In New Mortgage Rules

Law360, New York (August 15, 2012, 2:59 PM EDT) -- U.S. financial regulators on Wednesday unveiled proposed rules mandated by the Dodd-Frank Act that would establish new appraisal requirements for high-risk mortgage loans, as well as require more disclosure of appraisal information to all home loan applicants.

Dodd-Frank amended the Truth In Lending Act to require appraisals for high-risk mortgage loans, defined as loans which are secured by a consumer’s home and have interest rates that exceed certain thresholds. Under a rule jointly proposed by six financial regulators, including the Federal Reserve, the Consumer Financial Protection...
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