Compliance with the escrow requirements can be tricky. The rules are vague, certain terms are not defined, and we've even seen investors make up rules that contradict the regulatory requirements. If you aren't in compliance, the chances are good that it's a systemic issue, which can lead to more serious consequences.

While the Regulation hasn't changed in many years, the Consumer Financial Protection Bureau (CFPB) updated their Mortgage Servicing FAQs in June 2021. These updates include many FAQs specific to escrow accounts, escrow account analysis and escrow account deficiencies, shortages and surpluses.What You'll Learn:

• CFPB Escrow Accounts FAQs
  
• Required vs. Voluntary Escrow Accounts
  
• Initial, Annual, Short-Year & Payoff Statements
  
• Surpluses, Shortages & Deficiencies
  
• Step-by-Step Escrow Account Analysis
  
• TILA's HPML, TRID & Flood Insurance Intersections
  
• Best Practices, Plain English Answers to Your Questions & Much More!