Regulation Z, Truth in Lending Act, sets the requirements for mortgage lending. One of those requirements pertains to higher priced mortgage loans as it pertains to escrow accounts and appraisals. This course discusses the definition of higher priced mortgage loans as well as the escrow and appraisal requirements for these loans. This course is intended for lenders, loan operations, and compliance personnel.
- Identify a higher priced mortgage loan
- Know when an escrow account is required and the limited exemptions from the requirement
- Know the circumstances under which a second appraisal is required
Mobile, accessible, audio, video