The CFPB’s Final Rule that expands the eligibility to be exempt from the HPML escrow requirements was published in the Federal Register. This means the new exemption becomes effective TODAY for institutions with assets of no more than $10 billion that meet a loan origination volume threshold; a rural/underserved area service test, as well as a test on maintaining escrow accounts.
For more details, join us later TODAY for The New HPML Escrow Exemption Final Rule!
Diane joined Banker’s Compliance Consulting with over 10 years of compliance experience and over 15 years of experience within the financial industry. Diane is a Certified Regulatory Compliance Manager (CRCM) and has a Bachelor’s Degree in Sociology with a concentration in Criminal Justice. She is a graduate of the Schools of Banking Compliance School and has participated in various other training opportunities throughout her career. Diane understands firsthand the struggles banks face in building and maintaining successful compliance programs. Her experience and common sense approach to consumer compliance is a great asset to our clients.
Diane and her husband have two kids who keep them busy. She enjoys running and other sports and is a big Bugs Bunny fan! She’s a bit crazy in that she does enjoy reading some of these regulations and she’s a “crazy cat lady!” Her cat tales are hilarious!