MPF Announcement 2022-72
MPF Origination and Underwriting Policy Updates
Effective Date: January 1, 2023
Allowable Points and Fees—MPF Program Guide Chapter 7.6.1
The Consumer Financial Protection Bureau (CFPB) has increased the loan amount thresholds and dollar amount caps that apply under the ability-to-repay and safe harbor qualified mortgage rules.
The following loan amount thresholds and points and fees caps apply to all conventional and government mortgages secured by a primary residence or second home with a loan application date on or after January 1, 2023. The “total points and fees” and “total loan amount” must be calculated in accordance with Regulation Z (12 CFR § 1026.32).
|
Loan Amount 1 |
% Cap of the Total Loan Amount 1 |
|
>= $124,331 |
3% |
|
>= $24,866 and < $74,599 |
5% |
|
< $15,541 |
8% |
|
Loan Amount 1 |
Dollar Amount Cap |
|
>= $74,599 and <$124,331 |
$3,730 |
|
>=$15,541 and <$24,866 |
$1,243 |
1 For the loan amount categories with percentage caps, the PFI must apply the applicable percentage cap to the “total loan amount,” which may be less than the “loan amount.” (See Regulation Z, 12 CFR § 1026.43, for the term “loan amount,” and Regulation Z, CFR § 1026.32, for the term “total loan amount.”)
- References:
- MPF Announcement 2022-72
