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Federal Register / Vol. 86, No. 209 / Tuesday, November 2, 2021 / Rules and Regulations vi. For 2020, $1,099, reflecting a 2 percent increase in the CPIU from June 2018 to June 2019, rounded to the nearest whole dollar.
vii. For 2021, $1,103, reflecting a 0.3
percent increase in the CPIU from June 2019
to June 2020, rounded to the nearest whole dollar.
viii. For 2022, $1,148, reflecting a 4.2
percent increase in the CPIU from June 2020
to June 2021, rounded to the nearest whole dollar.
2. Historical adjustment of $400 amount.
Prior to January 10, 2014, a mortgage loan was covered by 1026.32 if the total points and fees payable by the consumer at or before loan consummation exceeded the greater of $400 or 8 percent of the total loan amount.
The $400 figure was adjusted annually on January 1 by the annual percentage change in the CPI that was in effect on the preceding June 1, as follows:
i. For 1996, $412, reflecting a 3 percent increase in the CPIU from June 1994 to June 1995, rounded to the nearest whole dollar.
ii. For 1997, $424, reflecting a 2.9 percent increase in the CPIU from June 1995 to June 1996, rounded to the nearest whole dollar.
iii. For 1998, $435, reflecting a 2.5 percent increase in the CPIU from June 1996 to June 1997, rounded to the nearest whole dollar.
iv. For 1999, $441, reflecting a 1.4 percent increase in the CPIU from June 1997 to June 1998, rounded to the nearest whole dollar.
v. For 2000, $451, reflecting a 2.3 percent increase in the CPIU from June 1998 to June 1999, rounded to the nearest whole dollar.
vi. For 2001, $465, reflecting a 3.1 percent increase in the CPIU from June 1999 to June 2000, rounded to the nearest whole dollar.
vii. For 2002, $480, reflecting a 3.27
percent increase in the CPIU from June 2000
to June 2001, rounded to the nearest whole dollar.
viii. For 2003, $488, reflecting a 1.64
percent increase in the CPIU from June 2001
to June 2002, rounded to the nearest whole dollar.
ix. For 2004, $499, reflecting a 2.22 percent increase in the CPIU from June 2002 to June 2003, rounded to the nearest whole dollar.
x. For 2005, $510, reflecting a 2.29 percent increase in the CPIU from June 2003 to June 2004, rounded to the nearest whole dollar.
xi. For 2006, $528, reflecting a 3.51 percent increase in the CPIU from June 2004 to June 2005, rounded to the nearest whole dollar.
xii. For 2007, $547, reflecting a 3.55
percent increase in the CPIU from June 2005
to June 2006, rounded to the nearest whole dollar.
xiii. For 2008, $561, reflecting a 2.56
percent increase in the CPIU from June 2006
to June 2007, rounded to the nearest whole dollar.
xiv. For 2009, $583, reflecting a 3.94
percent increase in the CPIU from June 2007
to June 2008, rounded to the nearest whole dollar.
xv. For 2010, $579, reflecting a 0.74
percent decrease in the CPIU from June 2008 to June 2009, rounded to the nearest whole dollar.
xvi. For 2011, $592, reflecting a 2.2 percent increase in the CPIU from June 2009 to June 2010, rounded to the nearest whole dollar.
xvii. For 2012, $611, reflecting a 3.2
percent increase in the CPIU from June 2010

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to June 2011, rounded to the nearest whole dollar.
xviii. For 2013, $625, reflecting a 2.3
percent increase in the CPIU from June 2011
to June 2012, rounded to the nearest whole dollar.
xix. For 2014, $632, reflecting a 1.1 percent increase in the CPIU from June 2012 to June 2013, rounded to the nearest whole dollar.
3. Applicable threshold. For purposes of 1026.32a1ii, a creditor must determine the applicable points and fees threshold based on the face amount of the note or, in the case of an open-end credit plan, the credit limit for the plan when the account is opened. However, the creditor must apply the allowable points and fees percentage to the total loan amount, as defined in 1026.32b4. For closed-end credit transactions, the total loan amount may be different than the face amount of the note.
The $20,000 amount in 1026.32a1iiA
and B is adjusted annually on January 1 by the annual percentage change in the CPI that was in effect on the preceding June 1.
i. For 2015, $20,391, reflecting a 2 percent increase in the CPIU from June 2013 to June 2014, rounded to the nearest whole dollar.
ii. For 2016, $20,350, reflecting a .2 percent decrease in the CPIU from June 2014 to June 2015, rounded to the nearest whole dollar.
iii. For 2017, $20,579, reflecting a 1.1
percent increase in the CPIU from June 2015
to June 2016, rounded to the nearest whole dollar.
iv. For 2018, $21,032, reflecting a 2.2
percent increase in the CPIU from June 2016
to June 2017, rounded to the nearest whole dollar.
v. For 2019, $21,549, reflecting a 2.5
percent increase in the CPIU from June 2017
to June 2018, rounded to the nearest whole dollar.
vi. For 2020, $21,980, reflecting a 2 percent increase in the CPIU from June 2018 to June 2019, rounded to the nearest whole dollar.
vii. For 2021, $22,052 reflecting a 0.3
percent increase in the CPIU from June 2019
to June 2020, rounded to the nearest whole dollar.
viii. For 2022, $22,969 reflecting a 4.2
percent increase in the CPIU from June 2020
to June 2021, rounded to the nearest whole dollar.

Section 1026.43Minimum Standards for Transactions Secured by a Dwelling

Paragraph 43e2vi.
1. Determining the average prime offer rate for a comparable transaction as of the date the interest rate is set. For guidance on determining the average prime offer rate for a comparable transaction as of the date the interest rate is set, see comments 43b41
through 3.
2. Determination of applicable threshold. A
creditor must determine the applicable threshold by determining which category the loan falls into based on the face amount of the note the loan amount as defined in 1026.43b5. For example, for a first-lien covered transaction with a loan amount of $75,000, the loan would fall into the tier for loans greater than or equal to $66,156
indexed for inflation but less than $110,260

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indexed for inflation, for which the applicable threshold is 3.5 or more percentage points.
3. Annual adjustment for inflation. The dollar amounts in 1026.43e2vi will be adjusted annually on January 1 by the annual percentage change in the CPIU that was in effect on the preceding June 1. The Bureau will publish adjustments after the June figures become available each year.
i. For 2022, reflecting a 4.2 percent increase in the CPIU that was reported on the preceding June 1, to satisfy 1026.43e2vi, the annual percentage rate may not exceed the average prime offer rate for a comparable transaction as of the date the interest rate is set by the following amounts:
A. For a first-lien covered transaction with a loan amount greater than or equal to $114,847, 2.25 or more percentage points;
B. For a first-lien covered transaction with a loan amount greater than or equal to $68,908 but less than $114,847, 3.5 or more percentage points;
C. For a first-lien covered transaction with a loan amount less than $68,908, 6.5 or more percentage points;
D. For a first-lien covered transaction secured by a manufactured home with a loan amount less than $114,847, 6.5 or more percentage points;
E. For a subordinate-lien covered transaction with a loan amount greater than or equal to $68,908, 3.5 or more percentage points;
F. For a subordinate-lien covered transaction with a loan amount less than $68,908, 6.5 or more percentage points.
4. Determining the annual percentage rate for certain loans for which the interest rate may or will change.
i. In general. The commentary to 1026.17c1 and other provisions in subpart C of this part address how to determine the annual percentage rate disclosures for closed-end credit transactions. Provisions in 1026.32a3
address how to determine the annual percentage rate to determine coverage under 1026.32a1i. Section 1026.43e2vi requires, for the purposes of 1026.43e2vi, a different determination of the annual percentage rate for a qualified mortgage under 1026.43e2 for which the interest rate may or will change within the first five years after the date on which the first regular periodic payment will be due.
An identical special rule for determining the annual percentage rate for such a loan also applies for purposes of 1026.43b4.
ii. Loans for which the interest rate may or will change. Section 1026.43e2vi includes a special rule for determining the annual percentage rate for a loan for which the interest rate may or will change within the first five years after the date on which the first regular periodic payment will be due.
This rule applies to adjustable-rate mortgages that have a fixed-rate period of five years or less and to step-rate mortgages for which the interest rate changes within that five-year period.
iii. Maximum interest rate during the first five years. For a loan for which the interest rate may or will change within the first five
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