HMPL Escrow Final Rule Am I In or Out?

Get your whole team trained for one price. – https://store.bankerscompliance.com/#?keyword=lending&type= Are you in or are you out? The new Truth in Lending Act, HPML, high priced mortgage loan, escrow exemption final rule dropped. So, there’s obviously a lot of questions…

HMPL Escrow Final Rule Am I In or Out?

Source

0
(0)

Get your whole team trained for one price. – https://store.bankerscompliance.com/#?keyword=lending&type=

Are you in or are you out? The new Truth in Lending Act, HPML, high priced mortgage loan, escrow exemption final rule dropped. So, there’s obviously a lot of questions out there.

Hi there, this is Jerod Moyer with Banker’s Compliance Consulting. Our team is busy trying to slice and dice this rule, now, it’s not a lengthy one, to try to give you the plain English translation, because that’s really what we want to know is, do I have to continue escrowing for HPMLs or do I get out of this? Well, the rule is a little bit more complicated than what it would appear on the surface. You see, the existing, small creditor exemption isn’t going to go anywhere, so if you meet that you’re still out. But some of you have had to escrow for HPMLs and you’re looking for a way out. Well, that’s what this new exemption brings to the table. What we need to do is get your team to understand the criteria, how it’s defined, and then determine whether or not your institution is going to meet that so that you could possibly no longer have to escrow for these high priced mortgage loans.

So, our teams put together a one-hour compliance webinar to give you that plain English translation. Get your team registered today. And remember, with any of our webinars, a single registration gets your whole team in. There’s not any extra costs to register additional locations. It’s one price, and everybody gets to come to the table. I’ll hope to see you there.

0 / 5. 0