Higher-Priced Mortgage Loan Escrow Exemption (Regulation Z)

Title: Higher-Priced Mortgage Loan Escrow Exemption (Regulation Z) 
Subject: Regulation Z, mortgage lending
Agency: CFPB
Status: Notice of proposed rule making (NPRM)
Summary:

The Bureau of Consumer Financial Protection (Bureau) is proposing to amend Regulation Z, which implements the Truth in Lending Act, as mandated by section 108 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The amendments would exempt certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans. 

FR Doc: 2020-14692
Date proposed: July 2, 2020
Comments due date: Sept. 21, 2020
Effective date:

Rule compliance date:
Agency release:

Consumer Financial Protection Bureau Issues Proposed Rule on Escrow Exemptions for Certain High-Priced Mortgage Loans

Related Reg Report item(s):

Proposal would exempt many banks, credit unions from escrow requirements for higher-priced mortgage loans

 

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