RC_LA_CR_300.4 Escrow Operations for CSRs
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011147-WC-WPurchase
This is a single-family/residential course.
Mortgages are generally for terms of 15 to 30 years in length. They are amortized through monthly payments of principal and interest. Often included in the mortgage payment are escrow fees. The monthly collection of amounts for taxes, insurance, and other assessments are deposits for the payment of future bills. These deposits are held in escrow accounts by the servicer. An escrow account is defined as any account that a servicer establishes or controls on behalf of a borrower. This definition covers "trust accounts," "reserve accounts," "impound accounts," and any other descriptive term that different localities may use. Specifically excluded from the definition of an escrow account, however, is any account that is under the borrower's complete control.
Escrow Operations for CSRs looks at the primary components of an escrow account. After providing thorough coverage of mortgage insurance, hazard insurance, and property taxes, the course concludes with an examination of escrow analysis.
- Mortgage Insurance
- Hazard Insurance
- Escrow Analysis
Seat time approximately one (1) hour.