
Escrow Processing
COMMERCIAL Escrow Processing can be attached to any loan. Escrow calculations and disclosure are fully RESPA-Compliant.
Escrow Processing can be attached to any loan. Escrow calculations and disclosure are fully RESPA-compliant. Multiple escrow accounts can be maintained on an account. The multiple accounts may be used for taxes and insurance or to separate interest-bearing and non-interest-bearing balances. An unlimited number of disbursements can be set up for each escrow account. You can collect and disburse for multiple insurance policies and for multiple tax authorities.
The escrow processing is integrated with mass disbursement processing. Multiple test runs can be processed and adjustments made before the final disbursement run is processed.
The user-defined payment hierarchy lets you define the priority for escrow payments. You can always be sure escrow will be split from the payments to protect your interest in the property.
For commercial properties that are not subject to RESPA regulations, you can opt out of RESPA processing for selected loans. Set the escrow requirements loan by loan according to your loan agreements.
Highlights
- RESPA-Compliant Computations and Disclosure
- Multiple Escrow Accounts Per Loan
- Unlimited Escrow Disbursements
- Optional Interest Paid on Escrow Balances
- RESPA-Compliant and Line-Item Analysis Methods
- Overage and Shortage Options
- Mass Disbursement Interface
- Automatic Payment Split
- User-Defined Payment Hierarchy for Escrow Payment
- Add Escrow Processing at Any Time
- Full Escrow History Online
- Bank & Loan-Level Cushion Selections