Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Monday, April 22, 2013

CFPB Issues Compliance Guide on Escrow Rule

The CFPB has issued a compliance guide for the escrow rule finalized in January. The rule increases to five years the minimum time for which lenders must maintain an escrow account on a “higher-priced” mortgage secured by a first lien.

Institutions serving rural and underserved areas, as well as institutions with less than $2 billion in assets and that originate fewer than 500 first-lien covered loans annually, may qualify for an exemption from the rule, which takes effect June 1. The guide covers some additional exemptions from the rule.

Read the guide.

No comments:

Post a Comment

Please read our comment policy before making a comment.