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Future activity forecast |
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Tax bill amounts and due dates |
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Insurance premium payment amounts and due dates |
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Monthly activity recaps |
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Escrow analysis |
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Initial Disclosure – Performed for newly boarded loans |
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Annual disclosure – Performed once a year for active loans in servicing |
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Final Disclosure – Performed when loan has paid off or is service released. |
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Short year – This situation arises when there is a change in the escrow account i.e. the borrower has changed home owner’s policy or some other event occurs that requires a new analysis. |
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Determine the appropriate target balance |
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Compute the borrower’s monthly payment requirement |
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Determine surpluses or deficiencies |