If you are dealing with escrow accounts and higher-priced mortgage loans (HPMLs), you need to understand the Federal Reserve’s Regulations X and Z inside and out. These two rules create a framework that determines how escrow accounts connected to residential mortgages are structured. Regulation Z, which implemented the Truth-in-Lending Act (TILA), sets requirements for the creation and maintenance of escrow accounts—and unique requirements for HPMLs. And Regulation X calls for the timely refund of escrow balance. It’s time you knew these rules better.
Chrys Lemon is an attorney specializing in financial services law, especially financial products, and his years of experience in the industry have given him broad working knowledge of these financial rules. Join Lemon in this live webinar as he walks you through TILA and Regs X and Z—and how these rules relate to HPMLs, specifically. Learn how to serve your clients well, and compliantly.
Lemon will reveal the details of HPMLs, which loans are covered by the HPML escrow requirements and which are exempt, how Regulation Z escrow can affect mortgage lending, and when an escrow account can be closed. Use this webinar to get clear on industry rules. You’ll leave this presentation equipped with detailed compliance knowledge, an easy-to-use chart on HPML definitions, and a complete summary of all aspects of Regs X and Z.
This program will teach you:
What a higher-priced mortgage loan (HPML) is
How Regulations X and Z affect mortgage lending and escrow
Which loans are covered by HPML escrow requirements and which are exempt
When an escrow account on a HPML can be cancelled
What a timely escrow disbursement is and when the escrow balance must be refunded
Which institutions can take advantage of the exemption from the HPML rule for small creditors
What disclosures are required when an escrow is cancelled
When must an escrow balance be refunded
Who Should Attend
Compliance managers involved with residential mortgage lending, especially escrow requirements
Banking Management and Directors
Mortgage Lending Divisions of Financial Institutions
In-House Counsel and Compliance Personnel for Mortgage Lenders
Chrys Lemon is a partner in McIntyre & Lemon, PLLC, in Washington, D.C. He specializes in financial services law, particularly related to marketing of consumer financial products and services, privacy law, insurance law, and regulation of financial institutions by the Consumer Financial Protecti...
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