Economic Development Administration, U.S. Department of Commerce
October 3, 2016
Notice of Proposed Rulemaking; Request for Comment
Revolving Loan Fund Program Changs
Summary: The proposal addresses the portion of Project Property attributable to EDA's Investment Assistance. In Section 314.5(a), EDA proposes adding two new sentences to explain EDA's usual practice of relying on a certified apprasal prepared by a licensed appraiser to determine the fair market value of Project Property and also provide that in certain extraordinary circumstances, and at the agency's sole discretion, EDA may rely on an alternative method to determine the fair market value, such as the amount of the award of Investment Assistace or the aount paid by a transferee.
Comment Deadline: December 2, 2016
U.S. Department of the Interior
September 22, 2016
Appraisals and Valuations of Indian Property
Summary: Congress recently passed the Indian Trust Asset Reform Act (ITARA),which requires the Secretary of the Interior to establish and publish in the Federal Register minimum qualifications for individuals to prepare appraisals and valuations of Indian trust property. This proposed rule would establish the minimum qualifications and would also implement provisions of ITARA that require the Secretary to accept appraisals and valuations without additional review or approval under certain circumstances.
Comment Deadline: November 16, 2016
Amendment to Federal Mortgage Disclosure Requirements Under the Truth in Lending Action (Regulation Z)
August 15, 2016
Summary: The OCC, the Board and the Bureau are publishing proposed rules amending the official interpretations for their regulations that implement section 129H of the Truth in Lending Act (TILA). Section 129H of TILA establishes special appraisal requirements for “higher-risk mortgages, termed “higher-priced mortgage loans” or “HPMLs” in the agencies' regulations. The OCC, the Board, the Bureau, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA) and the Federal Housing Finance Agency (FHFA) (collectively, the Agencies) issued joint final rules implementing these requirements, effective January 18, 2014. The Agencies' rules exempted, among other loan types, transactions of $25,000 or less, and required that this loan amount be adjusted annually based on any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the OCC, the Board and the Bureau will not adjust this exemption threshold from the prior year. The proposal would memorialize this as well as the agencies' calculation
method for determining the adjustment in years following a year in which there is no annual percentage increase in the CPI-W.
Comment deadline: September 6, 2016
CFPB Proposed Rule Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
August 4, 2016
Summary: The Bureau of Consumer Financial Protection (Bureau) is proposing various amendments to Federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act and the Truth in Lending Act that are implemented in Regulation Z. The proposed amendments memorialize the Bureau's informal guidance on various issues and include clarifications and technical amendments. The Bureau is also proposing tolerance provisions for the total of payments, an adjustment to a partial exemption mainly affecting housing finance agencies and nonprofits, extension of coverage of the integrated disclosure requirements to all cooperative units, and guidance on sharing the disclosures with various parties involved in the mortgage origination process.
Comment deadline: September 6, 2016
ASC Proposed Rule Appraisal Subcommittee; Notice of Proposed Rulemaking To Implement Collection and Transmission of Annual AMC Registry Fees May 20, 2016
SUMMARY: The Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) is proposing a rule pursuant to authority granted in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to implement collection and transmission of appraisal management company (AMC) annual registry fees by State appraiser certifying and licensing agencies that elect to register and supervise AMCs. The ASC requests comment on all aspects of this Notice.
Comment deadline: July 19, 2016