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Federal Register / Vol. 86, No. 209 / Tuesday, November 2, 2021 / Rules and Regulations
years after the date on which the first regular periodic payment will be due, a creditor must treat the maximum interest rate that could apply at any time during that five-year period as the interest rate for the full term of the loan to determine the annual percentage rate for purposes of 1026.43e2vi, regardless of whether the maximum interest rate is reached at the first or subsequent adjustment during the five-year period. For additional instruction on how to determine the maximum interest rate during the first five years after the date on which the first regular periodic payment will be due, see comments 43e2iv3 and 4.
iv. Treatment of the maximum interest rate in 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, the creditor must determine the annual percentage rate for purposes of 1026.43e2vi by treating the maximum interest rate that may apply within the first five years as the interest rate for the full term of the loan. For example, assume an adjustable-rate mortgage with a loan term of 30 years and an initial discounted rate of 5.0
percent that is fixed for the first three years.
Assume that the maximum interest rate during the first five years after the date on which the first regular periodic payment will be due is 7.0 percent. Pursuant to 1026.43e2vi, the creditor must determine the annual percentage rate based on an interest rate of 7.0 percent applied for the full 30-year loan term.
5. Meaning of a manufactured home. For purposes of 1026.43e2viD, manufactured home means any residential structure as defined under regulations of the U.S. Department of Housing and Urban Development HUD establishing manufactured home construction and safety standards 24 CFR 3280.2. Modular or other factory-built homes that do not meet the HUD
code standards are not manufactured homes for purposes of 1026.43e2viD.
6. Scope of threshold for transactions secured by a manufactured home. The threshold in 1026.43e2viD applies to first-lien covered transactions less than $110,260 indexed for inflation that are secured by a manufactured home and land, or by a manufactured home only.

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Paragraph 43e3ii.
1. Annual adjustment for inflation. The dollar amounts, including the loan amounts, in 1026.43e3i 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 2015, reflecting a 2 percent increase in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed;
A. For a loan amount greater than or equal to $101,953: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $61,172 but less than $101,953: $3,059;

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C. For a loan amount greater than or equal to $20,391 but less than $61,172: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $12,744 but less than $20,391; $1,020;
E. For a loan amount less than $12,744: 8
percent of the total loan amount.
ii. For 2016, reflecting a 0.2 percent decrease in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed;
A. For a loan amount greater than or equal to $101,749: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $61,050 but less than $101,749: $3,052;
C. For a loan amount greater than or equal to $20,350 but less than $61,050: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $12,719 but less than $20,350; $1,017;
E. For a loan amount less than $12,719: 8
percent of the total loan amount.
iii. For 2017, reflecting a 1.1 percent increase in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed:
A. For a loan amount greater than or equal to $102,894: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $61,737 but less than $102,894: $3,087;
C. For a loan amount greater than or equal to $20,579 but less than $61,737: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $12,862 but less than $20,579: $1,029;
E. For a loan amount less than $12,862: 8
percent of the total loan amount.
iv. For 2018, reflecting a 2.2 percent increase in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed:
A. For a loan amount greater than or equal to $105,158: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $63,095 but less than $105,158: $3,155;
C. For a loan amount greater than or equal to $21,032 but less than $63,095: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $13,145 but less than $21,032: $1,052;
E. For a loan amount less than $13,145: 8
percent of the total loan amount.
v. For 2019, reflecting a 2.5 percent increase in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed:
A. For a loan amount greater than or equal to $107,747: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $64,648 but less than $107,747: $3,232;
C. For a loan amount greater than or equal to $21,549 but less than $64,648: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $13,468 but less than $21,549: $1,077;

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E. For a loan amount less than $13,468: 8
percent of the total loan amount.
vi. For 2020, reflecting a 2 percent increase in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed:
A. For a loan amount greater than or equal to $109,898: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $65,939 but less than $109,898: $3,297;
C. For a loan amount greater than or equal to $21,980 but less than $65,939: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $13,737 but less than $21,980: $1,099;
E. For a loan amount less than $13,737: 8
percent of the total loan amount.
vii. For 2021, reflecting a 0.3 percent increase in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed:
A. For a loan amount greater than or equal to $110,260: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $66,156 but less than $110,260: $3,308;
C. For a loan amount greater than or equal to $22,052 but less than $66,156: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $13,783 but less than $22,052: $1,103;
E. For a loan amount less than $13,783: 8
percent of the total loan amount.
viii. For 2022, reflecting a 4.2 percent increase in the CPIU that was reported on the preceding June 1, a covered transaction is not a qualified mortgage unless the transactions total points and fees do not exceed:
A. For a loan amount greater than or equal to $114,847: 3 percent of the total loan amount;
B. For a loan amount greater than or equal to $68,908 but less than $114,847: $3,445;
C. For a loan amount greater than or equal to $22,969 but less than $68,908: 5 percent of the total loan amount;
D. For a loan amount greater than or equal to $14,356 but less than $22,969: $1,148;
E. For a loan amount less than $14,356: 8
percent of the total loan amount.

Section 1026.52Limitations on Fees

52b1ii Safe Harbors 1. Multiple violations of same type. i. Same billing cycle or next six billing cycles. A card issuer cannot impose a fee for a violation pursuant to 1026.52b1iiB unless a fee has previously been imposed for the same type of violation pursuant to 1026.52b1iiA. Once a fee has been imposed for a violation pursuant to 1026.52b1iiA, the card issuer may impose a fee pursuant to 1026.52b1iiB
for any subsequent violation of the same type until that type of violation has not occurred for a period of six consecutive complete billing cycles. A fee has been imposed for purposes of 1026.52b1ii even if the
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