Escrow
What: The Federal Reserve Board (FRB) published final regulations to toughen Reg Z restrictions on mortgage lenders.
- Establishes a new category of loans—higher-priced mortgage loans
- Establishes escrow requirements for higher-priced mortgage loans
Effective: Escrow requirements on higher-priced mortgage loans (HPML):
- April 1, 2010, for residential real property
- October 1, 2010, for manufactured homes, trailers, boats, etc.
Solutions:
On demand webinar: Understanding Escrow and Changes
February 11, 2010 | On Demand | On CD
ESCROW Consumer Educational Brochure – A new brochure that helps explain ESCROW to your consumers.
Click here for more information or to order the ESCROW Educational Brochure.
Escrow Tool Kit includes the following components:
- “Understanding Escrow and Changes” recorded webinar
- PRINGLE® Policies & Procedures documentation
- Escrow Implementation Guide
- Borrower Education Brochure on understanding escrow
Click Here for More information or to order the ESCROW Toolkit
