COMMERCIAL Escrow Processing can be attached to any loan. Escrow calculations and disclosure are fully RESPA-Compliant.

COMMERCIAL Escrow Processing enables the lender to collect tax and insurance payments from the borrower and pay (disburse) the taxes and insurance premiums to tax agencies or insurance companies. COMMERCIAL -related escrow functions supporting these activities include the Escrow Tax and Escrow Insurance Records, the Escrow Disbursement Record, and the Escrow Insured Information Record.

The Escrow Tax Account Record and Escrow Insurance Record contain the information for billing the tax/insurance payment to the customer and accruing the interest on the balance of the tax/insurance account. The user may establish only one (1) tax account and one (1) insurance account per loan.

There can be multiple Escrow Disbursement Records, attached to either the Escrow Tax Account Record or the Escrow Insurance Account Record. The Disbursement Records contain the information necessary to properly make the disbursement (payment) to the appropriate entity (taxing authority, insurance company, etc.) and reduce the escrow balance. The user may establish multiple disbursement records per escrow account record.

The Escrow Insured Information Record contains the information germane to a single insured person (in the case of credit life or accident and health insurance). Unlimited numbers of Escrow Insured Information Records may be established for a given insurance disbursement record representing an insurance policy. It is optional for insurance disbursements/insurance policies; however, it is necessary if insurance cancellation due to insured's age is to be tracked/processed by the COMMERCIAL system.