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#1873135 - 11/21/13 03:44 PM Home Equity Line Escrow?
JerryB Offline
Junior Member
Joined: Feb 2010
Posts: 26
Crook County
Does BW require an escrow for home equity lines if there are no other liens? I couldn't find an exclusion in the proposed reg.

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Flood Compliance
#1873177 - 11/21/13 04:32 PM Re: Home Equity Line Escrow? JerryB
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
I haven't read the 10/8/13 document in its entirety but what I have read it does encompass HELOCs in a first lien position and it would also encompass HELOCs in a subordinate lien position if the first lien holder is not escrowing for the flood insurance premium or is exempt and the subordinate lien holder is not exempt.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1873204 - 11/21/13 05:03 PM Re: Home Equity Line Escrow? JerryB
JerryB Offline
Junior Member
Joined: Feb 2010
Posts: 26
Crook County
Thanks, Dan. I would think there would be lots of comments on this.

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