LERETA, Pomona, Calif., released a new survey showing that among respondents who have an escrow account with their mortgage, only 52% “completely” understand how that account works.
Tag: Escrow
CFPB Issues Proposed Rule on Reg Z Escrow Exemptions
The Consumer Financial Protection Bureau on Thursday issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.