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” for loans made during a given calendar year. (In
May 2013, the CFPB released the list for loans made from June 1, 2013, through
December 31, 2013).… Continue Reading
rural
CFPB proposes amendments to final mortgage escrow account rule
By Richard J. Andreano, Jr. on
Posted in Mortgages, Regulatory and Enforcement
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 information, the proposal is the “first publication of additional guidance and updates regarding the Title XIV Final Rules.” It further states that because the final rule is effective June 1, 2013, the CFPB gave priority to issuing the proposal. … Continue Reading