Mandatory Escrows on all Mortgages Coming…?

We already know that buyers that have FHA, VA or USDA or have a conventional loan with less than 20% down are required to set up an escrow account with their lender. However, now the newly formed CFPB as part of the Dodd Frank Law as decided that all borrowers should have to have an escrow account regardless of their down payment. Watch the video below:

 

 

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