Board Announces Annual Adjustment of Fee-Based Trigger for Additional Mortgage Loan Disclosures
August 10, 2009
Circular No. 12128

The Federal Reserve Board has published its annual adjustment of the dollar amount of fees that triggers additional disclosure requirements under the Truth in Lending Act for home mortgage loans that bear rates or fees above a certain amount.

The dollar amount of the fee-based trigger has been adjusted to $579 for 2010 based on the annual percentage change reflected in the Consumer Price Index that was in effect on June 1, 2009.

The adjustment will become effective January 1, 2010. This adjustment does not affect the new rules for "higher-priced mortgage loans" adopted by the Board in July 2008. Coverage of mortgage loans under the July 2008 rules will be determined by using a different rate-based trigger.

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