Mastering Escrow Accounts: From Initial Disclosure to Yearly Analysis
Escrow and impound accounts play a key role in helping homeowners manage property-related expenses alongside their mortgage. For lenders, this means having a strong grasp of escrow setup, analysis, and ongoing account maintenance.
This session will walk through essential requirements, including accurately disclosing taxes, insurance, and other costs on TRID documents, preparing the initial escrow account statement, and managing escrow accounts after origination. You’ll also gain a clear understanding of the escrow analysis process, with guidance on handling shortages, surpluses, and deficiencies. To round things out, we’ll highlight common examiner identified violations so you can spot potential risks early and strengthen your compliance approach.
