Home / Product

RC_LA_EA_300.1 Escrow Analysis

1-5 CMB Points Advanced Education Loan Administration & Servicing Residential Residential Certified Mortgage Servicer (RCMS) Self-Study Web-Based Courses
Share to
Option Price
Member $50.00
Non-Member $100.00

Escrow Analysis examines the process lenders use to determine whether monthly escrow deposits will provide sufficient funds to pay taxes, insurance, and other bills when due. The course begins with a description of the two basics types of escrow analysis: the initial escrow analysis and the annual escrow analysis. Next, the course reviews some of the laws that affect the handling of escrow accounts, including the Real Estate Settlement Procedures Act, the Truth in Lending Act, the Homeowners Protection Act or The PMI Act, and bankruptcy laws. It then provides an overview of Real Estate Settlement Procedures Act (RESPA) regulations and RESPA's impact on escrow analysis. Next, the required method of escrow analysis - the aggregate method - is described. The course goes on to define escrow shortages, surpluses, and deficiencies and how these are handled. It then provides an overview of initial and annual escrow analysis statements. Finally, the course lays out the steps involved in an escrow analysis.

This is a single-family/residential course.

Topics:

  • Escrow Analysis Basics
  • Laws Affecting Escrow
  • RESPA Regulations and the Escrow Analysis
  • Analysis Method
  • Surpluses, Shortages, and Deficiencies
  • Escrow Account Statement
  • Steps Involved in Escrow Analysis

     

    Seat time approximately 1.5 hours.

    Copyright 2023.