Consumer Financial Protection Bureau Issues Rule On Higher-Priced Mortgage Loan Escrow Exemption

January 19, 2021

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The CFPB issued a final rule to implement a requirement of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), exempting certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs).

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