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Escrow Required for HELOCs?

Answered by: 

Question: 
Is escrow required for HELOCs? The borrower does not currently have a first mortgage on their property.
Answer: 

The HPML requirements do not apply to HELOCs. There are no other regulations that require you to escrow (at this time).

First published on BankersOnline.com 10/24/11

First published on 10/24/2011

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