Removing Barriers Blog

CFPB Issues New Escrow FAQs
Posted June 03, 2021 by CUNA Advocacy

The CFPB recently added 23 new FAQs to its Mortgage Servicing compliance resources. These are all on the topic of servicing escrow accounts under Regulation X, and are broken down into four categories: General; Escrow Account Analysis; Deficiencies, Shortages, and Surpluses; and Public Guidance Documents. Most of these new FAQs are fairly basic restatements of the regulation, however the questions describing the Bureau’s approach to the Public Guidance Documents and their relationship to HUD’s prior guidance may be helpful.