Calendar of Events

What's All the Fuss About Escrows?

09/10/2018, 10:00 AM to Noon

No location provided

Amy Davis adavis@msbankers.com 601-948-6366

Description:

What's All the Fuss About Escrows?


Presented by Jack Holzknecht
Monday, September 10th, 2018
10:00 am - 12:00 pm CT


Program Content

Upon completion of the program participants understand:
  • Which loans are required by Regulation Z and the flood regulations to have escrow accounts, and which are exempt;
  • The limitations on the amount of the required escrow payments at origination and over the life of the loan;
  • How to conduct an escrow analysis;
  • How to determine an escrow account computation year;
  • The calculation of the amount of the allowed cushion;
  • The rules for preparing the initial escrow account disclosure statement;
  • The TRID rules regarding the escrow notices required in the Closing Disclosure;
  • The expanded Flood Hazard Notice for Escrow information;
  • The flood insurance option to escrow notice;
  • How to prepare the annual escrow account statement;
  • How to resolve a surplus, a deficiency or a shortage;
  • Revised Regulation X rules for timely escrow payments and treatment of escrow balances;
  • Regulation Z rules regarding escrow cancellation notices;
  • The recordkeeping rules for escrow accounts; and
  • The penalties for the failure to submit an initial or annual escrow account statement.
Register here