United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2013_register executive 2013-01-19 article Part III Rules and Regulations D09002ee1c7fbf319 D09002ee1c7fbf426 United States Bureau of Consumer Financial Protection originator org United States Government Agency or Subagency The Bureau of Consumer Financial Protection (Bureau) is publishing a final rule that amends Regulation Z (Truth in Lending) to implement certain amendments to the Truth in Lending Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Regulation Z currently requires creditors to establish escrow accounts for higher-priced mortgage loans secured by a first lien on a principal dwelling. The rule implements statutory changes made by the Dodd-Frank Act that lengthen the time for which a mandatory escrow account established for a higher-priced mortgage loan must be maintained. The rule also exempts certain transactions from the statute's escrow requirement. The primary exemption applies to mortgage transactions extended by creditors that operate predominantly in rural or underserved areas, originate a limited number of first-lien covered transactions, have assets below a certain threshold, and do not maintain escrow accounts on mortgage obligations they currently service. 78 FR 4726 https://www.govinfo.gov/app/details/FR-2013-01-22/2013-00734 2013-00734 fr22ja13-14 RIN 3170-AA16 4810-AM-P Docket No. CFPB-2013-0001 https://www.govinfo.gov/app/details/FR-2013-01-22/2013-00734 https://www.govinfo.gov/content/pkg/FR-2013-01-22/html/2013-00734.htm https://www.govinfo.gov/content/pkg/FR-2013-01-22/pdf/2013-00734.pdf Advertising Consumer Protection Mortgages Recordkeeping Requirements Reporting Truth in Lending 32 p. 4726 4757 78 FR 4726 Title 12 Part 1026 12 CFR Part 1026 RIN 3170-AA16 Escrow Requirements Under the Truth in Lending Act (Regulation Z); Federal Register Vol. 78, Issue RULE 2013-00734 III BUREAU OF CONSUMER FINANCIAL PROTECTION 2013-06-01 Docket No. CFPB-2013-0001 4810-AM-P 2013-00734 Final rule; official interpretations.

The Bureau of Consumer Financial Protection (Bureau) is publishing a final rule that amends Regulation Z (Truth in Lending) to implement certain amendments to the Truth in Lending Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Regulation Z currently requires creditors to establish escrow accounts for higher-priced mortgage loans secured by a first lien on a principal dwelling. The rule implements statutory changes made by the Dodd-Frank Act that lengthen the time for which a mandatory escrow account established for a higher-priced mortgage loan must be maintained. The rule also exempts certain transactions from the statute's escrow requirement. The primary exemption applies to mortgage transactions extended by creditors that operate predominantly in rural or underserved areas, originate a limited number of first-lien covered transactions, have assets below a certain threshold, and do not maintain escrow accounts on mortgage obligations they currently service.

Effective date: The rule is effective June 1, 2013. David Friend or Ebunoluwa Taiwo, Counsels, Office of Regulations, at (202) 435-7700. Advertising Consumer Protection Mortgages Recordkeeping Requirements Reporting Truth in Lending Escrow Requirements under Truth in Lending Act (Regulation Z) , http://files.consumerfinance.gov/a/assets/documents/201206_cfpb_Reverse_Mortgage_Report.pdf http://www.economy.com/default.asp http://www.ers.usda.gov/data-products/urban-influence-codes/documentation.aspx http://www.fdic.gov/regulations/resources/cbi/report/cbi-full.pdf http://www.federalreserve.gov/pubs/feds/2008/200811/200811pap.pdf http://www.federalreserve.gov/pubs/feds/2011/201109/201109pap.pdf http://www.ffiec.gov/hmda http://www.kellogg.northwestern.edu/faculty/baliga/htm/sunkcost.pdf http://www.nafcu.org/NSCTertiary.aspx?id=23703 http://www.sba.gov/content/table-small-business-size-standards http://www2.fdic.gov/call_tfr_rpts/ Vol. 78, no. 14 Office of the Federal Register, National Archives and Records Administration 2013-01-22 continuing daily deposited born digital 473 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2013-01-22 P0b002ee183afd46f 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr22ja13 https://www.govinfo.gov/app/details/FR-2013-01-22 https://www.govinfo.gov/content/pkg/FR-2013-01-22/pdf/FR-2013-01-22.pdf https://www.govinfo.gov/content/pkg/FR-2013-01-22/xml/FR-2013-01-22.xml fdlp 4293 4757 DGPO 2013-01-19 2024-06-03 FR-2013-01-22 machine generated eng FR FR-2013-01-22 78 14