Consumer Financial Protection Bureau Issues Proposed Rule on Escrow Exemptions for Certain High-Priced Mortgage Loans
July 03, 2020
July 03, 2020
WASHINGTON, July 3 -- The Consumer Financial Protection Bureau issued the following news release:
The Consumer Financial Protection Bureau (Bureau) issued a notice of proposed rulemaking (NPRM) that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs). In issuing the NPRM the Bureau has commenced its last man . . .
The Consumer Financial Protection Bureau (Bureau) issued a notice of proposed rulemaking (NPRM) that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs). In issuing the NPRM the Bureau has commenced its last man . . .