Regulacje i polityka gospodarcza · 26/10/1994

HUD Finalizes Escrow Accounting Procedures Under RESPA

The Department of Housing and Urban Development (HUD) has issued a final rule establishing a nationwide standard accounting method for escrow accounts under the Real Estate Settlement Procedures Act (RESPA), requiring servicers to use aggregate accounting for federally related mortgage loans settled on or after the rule's effective date, with a three-year phase-in period for existing accounts.