On August 8, the OCC issued new guidance regarding the applicability of the legal lending limit (LLL) to purchased loans. The guidance clarifies that “all loans and extensions of credit made by banks are subject to the LLL”...more
On December 9, 2015, the Federal Housing Administration (“FHA”) announced its schedule of loan limits for the 2016 calendar year. The new schedule, effective January 1, 2016, raises loan limits in 188 counties and are a...more
The OCC Issues Final Lending Limits Rule - On Wednesday, June 19, 2013, the Office of the Comptroller of the Currency (the “OCC”) finalized its lending limits interim final rule, with revisions. ...more