In the August 15, 2014 issue of the Federal Register (79 FR 48015), click here, the Consumer Financial Protection Bureau established the following 2015 thresholds for high-cost and qualified mortgages under §§1026.32 and 1026.43, respectively. HOEPA (High-cost Mortgages) 2015 Threshold Adjustments • Existing §1026.32(a)(1)(ii) provides that a consumer loan secured by the consumer’s principal dwelling and not otherwise exempt is a high-cost mortgage (based on the total points and fees payable by the consumer) if the points and fees exceed: (A) 5 percent of the total loan amount for a loan with a loan amount of $20,000 or more, or (B) the lesser of 8 percent of the total loan amount or $1,000 for a loan with a loan amount of less than $20,000. Effective January 1, 2015, the $20,000 loan amount stated in §1026.32(a)(1)(ii)(A) and (B) is increased to $20,391 and the $1,000 amount stated in §1026.32(a)(1)(ii)(B) is increased to $1,020. Comment 32(a)(1)(ii)-1.i is added to reflect the new $1,020 threshold amount for 2015. Comment 32(a)(1)(ii)-3.i is added to reflect the new $20,391 threshold loan amount for 2015.
