12 CFR Part 1026, Appendix L to Part 1026 - Assumed Loan Periods for Computations of Total Annual Loan Cost Rates

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View PDF at GPOPt. 1026, App. L
Appendix L to Part 1026—Assumed Loan Periods for Computations of Total Annual Loan Cost Rates
(a) Required tables. In calculating the total annual loan cost rates in accordance with appendix K of this part, creditors shall assume three loan periods, as determined by the following table.
(b) Loan periods. (1) Loan Period 1 is a two-year loan period.
(2) Loan Period 2 is the life expectancy in years of the youngest borrower to become obligated on the reverse mortgage loan, as shown in the U.S. Decennial Life Tables for 1979-1981 for females, rounded to the nearest whole year.
(3) Loan Period 3 is the life expectancy figure in Loan Period 3, multiplied by 1.4 and rounded to the nearest full year (life expectancy figures at .5 have been rounded up to 1).
(4) At the creditor's option, an additional period may be included, which is the life expectancy figure in Loan Period 2, multiplied by .5 and rounded to the nearest full year (life expectancy figures at .5 have been rounded up to 1).
Age of youngestborrower Loan period 1(in years) [Optional loan period(in years)] Loan period 2(life expectancy) (in years) Loan period 3(in years)
62 2 [11] 21 29
63 2 [10] 20 28
64 2 [10] 19 27
65 2 [9] 18 25
66 2 [9] 18 25
67 2 [9] 17 24
68 2 [8] 16 22
69 2 [8] 16 22
70 2 [8] 15 21
71 2 [7] 14 20
72 2 [7] 13 18
73 2 [7] 13 18
74 2 [6] 12 17
75 2 [6] 12 17
76 2 [6] 11 15
77 2 [5] 10 14
78 2 [5] 10 14
79 2 [5] 9 13
80 2 [5] 9 13
81 2 [4] 8 11
82 2 [4] 8 11
83 2 [4] 7 10
84 2 [4] 7 10
85 2 [3] 6 8
86 2 [3] 6 8
87 2 [3] 6 8
88 2 [3] 5 7
89 2 [3] 5 7
90 2 [3] 5 7
91 2 [2] 4 6
92 2 [2] 4 6
93 2 [2] 4 6
94 2 [2] 4 6
95 and over 2 [2] 3 4

Title 12 published on 2015-01-01.

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2015-06-09; vol. 80 # 110 - Tuesday, June 9, 2015
    1. 80 FR 32658 - Minimum Requirements for Appraisal Management Companies
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, FEDERAL RESERVE SYSTEM, FEDERAL DEPOSIT INSURANCE CORPORATION, FEDERAL HOUSING FINANCE AGENCY, BUREAU OF CONSUMER FINANCIAL PROTECTION, Office of the Comptroller of the Currency
      Final rule.
      Effective date. This final rule will become effective on August 10, 2015. Compliance date: Federally regulated AMCs must comply with the minimum requirements for providing appraisal management services under 12 CFR 34.215(a) no later than 12 months from the effective date of this final rule. The participating State or States in which a State-regulated AMC operates will establish the compliance deadline for State-regulated AMCs.
      12 CFR Part 34

Title 12 published on 2015-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 1026 after this date.

  • 2015-06-26; vol. 80 # 123 - Friday, June 26, 2015
    1. 80 FR 36727 - 2013 Integrated Mortgage Disclosures Rule Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) and Amendments; Delay of Effective Date
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      BUREAU OF CONSUMER FINANCIAL PROTECTION
      Proposed rule with request for public comment.
      Comments must be received on or before July 7, 2015.
      12 CFR Parts 1024 and 1026