Mortgage Lending · Servicing
Escrow analysis procedures
An internal guide for mortgage servicing staff on how to review escrow accounts each year and reset the borrower's monthly payment.
What it usually contains
- Timing and schedule for annual and short-year escrow analyses
- Steps for projecting taxes, hazard and flood insurance, and mortgage insurance costs
- Rules for cushion limits, shortage and surplus handling, and repayment spread
- Borrower notice content and mailing deadlines
- Handling of escrow waivers, payment changes, and analysis errors or re-runs
What the assistant uses it for
Answer questions about how an escrow payment change was calculated, when statements must go out, and how shortages, surpluses, or cushions are treated. Also use it to check the steps staff must follow when correcting a bad analysis.
How it is versioned
A document of this type has exactly one current version at a time. Upload a revision and it becomes the version that counts — the one before it is kept and dated, but is no longer what your assistant answers from. Nothing is ever deleted, so you can always show what this document said on a given date.
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