Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance Require escrow for hazard if PMI?
Thread Options
#1742404 - 09/19/12 10:10 PM Require escrow for hazard if PMI?
mtngrrl Offline
Platinum Poster
mtngrrl
Joined: Mar 2011
Posts: 500
Northern California
If a loan has PMI on it, is there any requirement that we also escrow their hazard insurance? I have a lender who swears she was told this was a regulatory requirement, but I have not been able to locate any such requirement. I'm suspecting it was an internal requirement. Anyone know differently?
_________________________
Be kind; everyone you meet is fighting a hard battle.
--all opinions are my own--

Return to Top
Lending Compliance
#1742464 - 09/20/12 12:46 PM Re: Require escrow for hazard if PMI? mtngrrl
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Outside of an HPML there is no Federal requirement to escrow for insurance.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#1742563 - 09/20/12 03:07 PM Re: Require escrow for hazard if PMI? mtngrrl
mtngrrl Offline
Platinum Poster
mtngrrl
Joined: Mar 2011
Posts: 500
Northern California
Thank you, Dan.
_________________________
Be kind; everyone you meet is fighting a hard battle.
--all opinions are my own--

Return to Top

Moderator:  Andy_Z