Is there a standard form to be used when a customer chooses to opt-out of their escrow on HPML and Mobile Home loans after a year?

No, there is no standard form. And you are not obligated to accomodate the customer's request.


(iii) Cancellation. A creditor or servicer may permit a consumer to cancel the escrow account required in paragraph (b)(3)(i) of this section only in response to a consumer's dated written request to cancel the escrow account that is received no earlier than 365 days after consummation.

That is what I thought and how I read the reg. We had some lender's indicate they heard something about a standard form.

Thanks for the feedback!

A standard form is not allowed. We will require all requests to be hand written to avoid any resemblance of a "standard" form.