On January 10, the CFPB issued final rules that: (i) amend HOEPA to provide protections relating to risky loan features, such as prepayment penalties and to require homeownership counseling and (ii) require escrow accounts to be established for a minimum of 5 years for certain higher-priced mortgage loans, effective June 1. CFPB Release. CFPB Final HOEPA Rule. CFPB Guide on HOEPA Rule. CFPB Final Escrow Rule. CFPB Guide on Escrow Rule.