New Regulation on First-Lien Jumbo Loan Escrow Requirements

The Federal Reserve has finalized a new regulation for first-lien jumbo loan escrow requirements.  The new provision will require borrowers to establish escrow accounts when taking “out first-lien jumbo loans that have an APR that is 2.5 percentage points or more above the average prime offer rate”.  http://bit.ly/hYvupi

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