Higher-Priced Mortgage Loan Escrow Exemption (Regulation Z)

The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to amend Regulation Z, which implements the Truth in Lending Act, as mandated by section 108 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The amendments exempt certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.

This document corrects the Official Interpretations (Commentary) to Regulation Z. Specifically, the Bureau of Consumer Financial Protection (Bureau) is adding a comment to its Official Interpretations that it included in a recent higher-priced mortgage loan escrow exemption final rule but that was not incorporated into the Code of Federal Regulations (CFR) due to an omission in an amendatory instruction. The Bureau is also revising a comment that it included in the same recent final rule, but that inadvertently did not appear in a subsequently effective final rule.

Final rule

Read it on the Federal Register

View PDF - Jan. 19, 2021

Correction

Read it on the Federal Register

View PDF - May 28, 2021

Press release

Consumer Financial Protection Bureau Issues Rule on Higher-Priced Mortgage Loan Escrow Exemption