Comment on CFPB-2012-0031-0018

Document ID: CFPB-2012-0031-0024
Document Type: Public Submission
Agency: Consumer Financial Protection Bureau
Received Date: September 27 2012, at 12:00 AM Eastern Daylight Time
Date Posted: September 28 2012, at 12:00 AM Eastern Standard Time
Comment Start Date: September 5 2012, at 12:00 AM Eastern Standard Time
Comment Due Date: November 5 2012, at 11:59 PM Eastern Standard Time
Tracking Number: 8112c0d7
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This is comment on Proposed Rule

Appraisals for Higher-Risk Mortgage Loans

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Because the rules and objectives are similar, I would like to see the rules for HOEPA and HPML (or HRM as it appears they will now be called) consolidated into one set of rules for higher cost / risk mortgages. The point of both seems to be to protect consumers and ensure they are well informed when entering into a mortgage that is priced higher than most mortgages or that will have higher than usual fees. It's very confusing for lenders to deal with two sets of similar regulations with slight variations.

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Comment on CFPB-2012-0031-0018
Public Submission Posted: 09/26/2012 ID: CFPB-2012-0031-0022