Escrow
What does escrow means
The Escrow Account is the deposit of funds by a client, with the Lender, typically to pay taxes and insurance premiums when they become due. In some parts of the country, escrow of taxes and insurance premiums are called impounds or reserves.
Where to check the current analysis of the client in D7?
ANA1/LAST
What task to do to generate prepayment letter?
ESCPPT
Give 3 common causes in shortage
─Increase in escrowed items
─Delinquent taxes paid
─Lender placed insurance paid
─Duplicate insurance payment. This is often due to an insurance change where both policies are paid and the refund for the cancelled insurance has not yet been sent back to escrow.
─Rolled tax due dates.
Change in cushion requirements.
What's the refund timing for escrow refund?
30 days after the analysis date