Commercial Loan Servicing

Escrow Analysis

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

The optionally licensed Commercial Escrow Analysis Subsystem provides tools to analyze and adjust escrow accounts for the purpose of maintaining proper collection of tax and insurance payments. There are two types of escrow analysis available: RESPA-compliant and non-RESPA- compliant.

The RESPA-compliant escrow analysis process provides an aggregate analysis of the escrow account and includes two RESPA-regulated disclosures to comply with RESPA regulations:

The Initial Escrow Statement itemizes the estimated taxes, insurance premiums, and other charges anticipated to be paid from the escrow account during the first twelve months of the loan. It lists the escrow payment amount and any required cushion. The statement is usually given at settlement or within the first 45 days after settlement.

Loan servicers must deliver to borrowers an Annual Escrow Statement once a year. The Account History summarizes all escrow account deposits and payments during the servicer’s twelve-month computation year. The Projections for the Coming Year shows the estimated taxes and insurance for the next year. It also notifies the borrower of any shortages or surpluses in the account and the course of action being taken.

The non-RESPA compliant or Line-Item escrow analysis provides an analysis of each scheduled disbursement for the loan, computing a required payment for each. A single Line Item Analysis Statement is produced and notifies the borrower of any shortages or surpluses in the account and the course of action being taken.

In addition to these analysis statements, the Commercial Escrow Analysis Subsystem provides several reports to aid with escrow-account administration.

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