CFPB Finalizes Rule to Implement Growth Act Escrow Exemption for Higher-Priced Mortgage Loans
Collection Industry News
JANUARY 25, 2021
The HPML provisions in Regulation Z require that a creditor establish an escrow account for certain first lien HPMLs. For applications received before April 1 of the current calendar year, this condition is met if the insured creditor’s assets do not exceed the threshold on December 31 st of either of the two preceding calendar years.
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