Global Data Integrity Checks: Update for Global HPML Escrow Account DI Check

ConformX has the following global Data Integrity Error:

This loan is a Higher Priced Mortgage Loan under Regulation Z. Federal law requires the establishment of an escrow account for the payment of property taxes and/or insurance. For loans with an application date before 6/1/13 the escrow account must be maintained for at least one year, for loans with an application date on or after 6/1/13 the escrow account must be maintained for at least five years.

To simplify the Error, we are modifying the text to read:

This loan is a Higher Priced Mortgage Loan under Regulation Z. Federal law requires the establishment of an escrow account for the payment of property taxes and/or insurance.

In addition, we are excluding the Error from triggering for the following package types:

• Verification
• Adverse Action
• Appraisal
• Title Request

These Data Integrity Check changes are on Stage 1 and Stage 2 servers for testing. These changes will be in effect on ConformX Production servers on October 18, 2023. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.

T3S-11525

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.