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Category: Policy and compliance |
Published

Final list of rural and underserved counties for use in 2014

Several of our rules have provisions related to mortgage loans made by creditors that during the preceding year operated predominantly in “rural” or “underserved” counties or mortgage loans made in “rural” counties. A couple months ago, we posted a list of counties determined to be “rural” or “underserved” during 2012 for purposes of applying the affected provisions during 2013. We are posting the 2014 list today.

Category: Policy and compliance |
Published

Exemption from escrow requirement for small creditors in rural or underserved counties

On June 1, 2013, the Bureau’s Escrow Requirements under the Truth in Lending Act rule (Escrows Rule) will go into effect, which require certain creditors to create escrow accounts for a minimum of 5 years for higher-priced mortgage loans (HPMLs). The rule exempts HPMLs made by certain small creditors that operate predominantly in rural or […]