Mortgage Escrow Account

News & Analysis as of

Flood Insurance Reform Bill with Escrow Amendments Awaits President’s Signature

The U.S. House of Representatives and Senate recently passed, and the President is expected to sign into law, amendments to the Biggert-Waters Flood Insurance Reform Act of 2012 (the Act). The legislation seeks to address...more

Creating a Culture of Compliance

In this article, I outline the key questions that should be asked, the answers to which will determine the extent, depth, and integrity of a culture of compliance. I am going to take you through a set of questions that will...more

CFPB adjusts HMDA data collection and TILA mortgage escrow thresholds

In notices published in yesterday’s Federal Register, the CFPB adjusted the thresholds of the asset-size exemptions for collecting HMDA data and establishing an escrow account for certain mortgage loans under TILA. ...more

New Flood Insurance Rule Proposed by Joint Regulators

On October 11, five agencies issued a joint notice of proposed rulemaking to amend regulations related to loans secured by property located in flood hazard areas. The proposed rule would implement portions of the...more

CFPB issues final 2014 list of rural or underserved counties

The CFPB has released a final list of “rural” or “underserved” counties for use in 2014. The CFPB has indicated that creditors may rely on this list as a safe harbor to determine whether a county is “rural” or “underserved”...more

Orrick's Financial Industry Week In Review - May 28, 2013

In This Issue: CFPB's Escrows Final Rule; Rating Agency Developments; District Court Vacates Dismissal, Remands RMBS Suit Against J.P. Morgan to State Court; SunTrust Avoids FINRA Arbitration Concerning The Sale of RMBS;...more

CFPB finalizes mortgage escrow rule amendments and list of “rural” or “underserved counties” and issues videos on mortgage rules

The CFPB has issued final “clarifying and technical” amendments to its final mortgage escrow account rule dealing with the establishment of mandatory escrow accounts on higher-priced mortgage loans (HPML)....more

CFPB issues more small entity compliance guides for mortgage-related rules

The CFPB has issued several more Small Entity Compliance Guides on its mortgage-related rules. In addition to its guide on the ability-to-repay and qualified mortgage rule, the CFPB has now issued Small Entity Compliance...more

CFPB proposes amendments to final mortgage escrow account rule

The CFPB has proposed amendments to its final mortgage escrow account rule dealing with the establishment of mandatory escrow accounts on higher-priced mortgage loans (HPML). According to the proposal’s supplementary...more

CFPB Publishes Preliminary List Of Rural And Underserved Counties For Escrow Rule Implementation

On March 12, the CFPB published a preliminary list of rural and underserved counties for use in implementing certain new mortgage rules, including the rule on escrow account requirements for first-lien higher-priced mortgage...more

InfoBytes Special Alert: Detailed Analysis Of CFPB's Final Escrow Rule

On January 10, 2013, the Consumer Financial Protection Bureau issued its final rule on escrow account requirements for first-lien higher-priced mortgage loans. The rule amends existing escrow requirements and exemptions for...more

2013: The Year Ahead for Mortgage Lending

In this presentation: - “Never a Dull Moment” - ATR/QM Final Rule - HOEPA Final Rule - Loan Officer Final Rule - Escrow Final Rule - ECOA Appraisal Disclosure Rule - Appraisals for Higher...more

A Guide to Contract Interpretation - February 2013

Introduction - Transactional attorneys and litigators often take a very different approach toward contracts. Transactional attorneys focus on the ex ante — the relationship between the parties before there is a dispute....more

CFPB Issues Final Mortgage Escrow Account and High-Cost Loan Rules

Last week was a busy one for the CFPB. In addition to the final ability to repay/qualified mortgage rule, the CFPB also issued final rules on mortgage escrow accounts and high-cost home loans....more

CFPB Adopts Mortgage Escrow Account Final Rule

Among other final rules published on January 10, 2013, the CFPB issued its final mortgage escrow account rule under a section of the Dodd-Frank Act relating to the establishment of mandatory escrow accounts on higher-priced...more

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