Escrow
When a new borrower takes over an existing loan?
What is an Assumed loan.
Loan assumption (or mortgage assumption)- The new borrower becomes responsible for payments
Location of the cushion?
What is Escrow Info -
Analysis Information in Tracking
Used to Have Tax Reviewed
What is task 251
What is a Low Point on the escrow analysis?
What is,
The lowest balance the escrow account is projected to reach during the escrow analysis period- Used to calculate the account overage or Shortage.
Short Key escrow analysis in ILS?
What is , CTRL L - Will bring up all the Analysis run within our system.
Formula used to calculate missing Tax amount for LNAO
What is the Esc Pmt X 12 months Minus the issuance payment = The tax amounts
Known as an IED?
What is - Initial Escrow Disclosure given at the time of close.
(Considered the first Analysis of the escrow account)
Has to be removed/ Updated if the EA is reversed.
What is the Comments
Request for a removal of LPI
What is Task 454
Acronym LNAO stands for?
Loan Not Analyzed / Originations
Used to reverse an Analysis?
What is ' Event Manger
The oldest (original) task used in escrow
What is Task 258
Place that houses Documents?
What is OnBase.
Know as the PCF
What is the ' Payment Change file
The action that can pull up changes in CS and Tracking Module.
What is Field Logging