RC_LA_EA_200.1 Escrow in Loan Administration

Member Price: $49.00

Nonmember Price: $79.00

Product Code: DL2-011110-WC-W

Purchase

This is a single-family/residential course.

Escrow in Loan Administration describes the escrow administration function within the loan administration department. The course begins with a look at the three major components of the lending cycle: loan production, secondary marketing, and loan administration. It then outlines three primary risks of mortgage lending—borrower default, property damage, and tax sale—and illustrates how maintaining escrow accounts mitigates these risks. Next, the course defines escrow and describes how it is used to protect the lender's interests. The course then reviews the three major components of escrow accounts: mortgage insurance, property insurance, and property taxes. Finally, advantages and disadvantages of escrow to the lender and to the borrower are described.

Topics:

  • Mortgage Lending and Loan Administration
  • Risks in Mortgage Lending
  • Definition and Purpose of Escrow
  • Components of an Escrow Account
  • Advantages and Disadvantages of Escrow

    Seat time approximately one (1) hour.

    Copyright 2019.

  • Notes

    This is a self-paced, self-study course. Enroll anytime and take up to 12 months to complete the course.

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