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CFPB RIN: 3170-AA83 Publication ID: Spring 2019 
Title: Higher-Priced Mortgage Loan Escrow Exemption  

Prior to the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Federal Reserve Board issued a rule requiring the establishment of escrow accounts for payment of property taxes and insurance payments for certain "higher-priced mortgage loans,” a category which the Board defined to capture what it deemed to be subprime loans. Pursuant to the Dodd-Frank Act, the Bureau in 2013 issued a rule creating an exemption from the escrow requirement for creditors with under $2 billion in assets and meeting other criteria. Section 108 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, 15 U.S.C. 1639d, directs the Bureau to conduct a rulemaking to exempt from the escrow requirement loans made by certain creditors with assets of $10 billion or less and meeting other criteria.

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
EO 13771 Designation: Independent agency 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 15 U.S.C. 1601 et seq.   
Legal Deadline:  None
Action Date FR Cite
Prerule Activity  11/00/2019 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Mark Morelli
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700