CFPB releases list of rural and underserved counties, plans to tweak definitions

The Consumer Financial Protection Bureau released a preliminary list of counties where creditors will be exempt from certain new mortgage requirements. The list designates more than 1,600 counties and other political subdivisions as areas that are “rural” and “underserved.” The designations are important for determining which creditors will not be required to implement certain new escrow requirements later this year. Read on for the details.