The last of three compliance guides the CFPB published last week for small entities covers the agency’s final rule, promulgated in January with the other banking regulatory agencies, regarding appraisals for higher-priced (i.e., subprime) mortgage loans (HPMLs). The new guide reminds that under the HPML Appraisal Rule, mortgage loans are HPMLs if they are secured by a consumer’s principal dwelling and have interest rates above certain thresholds. Also, when lenders originate a higher-priced first-lien or subordinate-lien loan covered by the...