Monthly Archive:: December 2022

Q. Does RESPA require that we collect a cushion for escrow accounts? How large of a cushion must be collected? A. RESPA allows you to have up to 2 months’ cushion in an escrow account but doesn’t *require* that you have 2 months’ cushion. ...Read More

Question: Do Reg CC exception holds apply to check deposits drawn on foreign banks? Answer: If the check is actually drawn on a foreign bank not located in the US, it would not be considered a “check” covered by Reg. CC. Therefore, would not ...Read More