Does anyone know when the Truth in Lending (Regulation Z) Annual Threshold Adjustments for total points and fees regarding Qualified Mortgages and the total loan amount for high cost HOEPA loans will be published for 2023? The figures for 2022 were published on the federal register website around the beginning of November last year. Below are some of the figures for QM's


3.00% of total loan amount------Greater than or equal to $114,847
$3,445-------------Greater than or equal to $68,908 but less than $114,847
5% of total loan amount-------------Greater than or equal to $22,969 but less than $68,908

Only the CFBP knows.

Glad I'm not the only one going, what's up? I was coming here to ask this exact question. I have a recurring event on my calendar so I don't miss updating these.

Has anyone heard a peep from the CFPB on updated thresholds yet? I haven't... just making sure I didn't miss it.

Not a peep but one of our members did get this response: https://www.bankersonline.com/forum...annual-threshold-adjustments#Post2278533

Finally - whew

https://www.consumerfinance.gov/rul...al-threshold-adjustments-card-act-hoepa/

Thanks Randy! And happy belated birthday!

There is no change to the $1.00 threshold in 1026.6(b)(2)(iii) and 1026.60(b)(3) requiring creditors to disclose any minimum interest charge exceeding $1.00 that could be imposed during a billing cycle.

There are changes to the thresholds in 1026.32 relating to high-cost mortgages (HOEPA loans). See new comment paragraphs 32(a)(1)(ii)-1.ix and 32(a)(1)(ii)-3.ix.

Also changes to the dollar amounts in 1026.43(e)(3)(i) in the limits on points and fees for QMs, as provided in paragraph 1026.43(e)(3)(ii). See new comment paragraph 43(e)(3)(ii)-1.ix.

The new commentary paragraphs for 2023 have been added to BankersOnline Regulations pages for sections 1026.32 and 1026.43 of Regulation Z.

Thanks John! Always appreciate you keeping the BOL Regs page in top form!

Having something of a senior moment... is it application date, or consummation date, that drive which threshold to use for the points and fees test?

For example, application taken in December 2022, consummates January 2023; which determines the thresholds for calculation of the QM points and fees test?

Consummation date.

APR and points and fees tests happen at consummation.

Thank all - can someone point to the section of Reg Z that covers this - I've been through 1026.43 (e)(3), but not found it?

Does it say based on application date? If it does not, how can you make that assumption. You cannot prove a negative. Points and fees and the APR are determined at consummation. Why would you compare those figures back to another time? Let's say the application date was two months ago and the market interest rates and APOR for your loan has gone up 3.00% since the application date. How could you possibly even make a General QM under those conditions when the maximum spread allowed is 2.25%?

The definition for points and fees is found in 1026.32(b)(1), which refers to amounts known at or before consummation. Because these amounts can be set as late as consummation, the amounts at consummation (which may include certain amounts paid before consummation) are the amounts that matter.

Thanks again!

And my point around application/consummation was more to do with the turn of the year, and when the thresholds adjust. Would one you utilize the thresholds in place at application or at consummation.... hence the senior moment comment.

Appreciate the input.