We have seen an increase in the use of escrow analysis
guides, which are very helpful in explaining how the escrow process works.
From that point, users have the ability to amend tax lines and enter insurance information to generate the Initial Escrow Analysis
She counsels borrowers to review the escrow analysis
carefully to ensure that the appropriate amounts are being reserved for expenses.
The company developed thorough policies and processes, brought on staff with extensive experience in areas such as collection, loss mitigation, and escrow analysis
and worked with GCC Servicing Systems to create the internal platform.
This would give the servicer 30 days to buy the loan out of the pool, make the necessary interest-rate adjustments and modifications to the principal balance, establish a new billing schedule and perform a complete escrow analysis
Modules include customer service, escrow analysis
, collections, subservicing and default management.
Not only does LoanStat enable FICS' commercial servicing customers to provide their borrowers and investors with access to their loan data online, it also gives them the ability to provide electronic copies of items such as amortization schedules, escrow analysis
, billing statements, escrow activity reports, loan activity reports, and payoff statements.
The introduction of the Real Estate Settlement Procedures Act (RESPA) provided some impetus for the automation of escrow functions and more specifically, escrow analysis
Triad's loss management program combines the efforts of underwriters, escrow analysis
, customer service, collections, loan counseling and foreclosure departments.
According to Martin, to remain compliant, "lenders will need to know some basic escrowing procedures such as how to conduct an escrow analysis
, how to prepare the initial and the annual escrow account disclosure statements, and how to keep the appropriate records for auditing and risk-mitigation purposes.
OLS users will have access to screens that are organized to perform cash processing, escrow disbursements, default servicing, investor reporting, customer service, escrow analysis
, year-end reporting, inquiry and file maintenance, explained James B.
According to Shull, EastPoint Release 10 offers Los Alamos National Bank several benefits in addition to Year 2000 readiness, including improved support for escrow analysis
and branch reporting.