Friday, January 22, 2021
Loading Events

« All Events

  • This event has passed.

What You Need to Know About Escrows, Webinar

April 14, 2020 @ 10:00 am - 12:00 pm CDT

Click Here for More Information

Covered Topics

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;
  • The penalties for the failure to submit an initial or annual escrow account statement; and
  • The revisions to the Regulation Z rules made by EGRRCPA.