Servicing Director Annual Escrow Account Disclosure Statement Does Not Provide Option to Deposit Surplus Amount Rather than Send a Check
In the Annual Escrow Account Disclosure Statement letter, it states that "We are sending you a check for the surplus." There is no option available for the institution to change the verbiage to state that the surplus will be deposited into the borrower's share savings account. Your institution may want this option, to avoid having to cut a check and mailing it out.
Environment:
Servicing Director Annual Escrow Account Disclosure Statement
Workaround:
There is currently no way to change the verbiage on the delivered Annual Escrow Account Disclosure Statement. You may wish to consider engaging fee-based Finastra Professional Services to customize such a letter for you.
Submit a case through Case Management to increment Change Request 143833.
At this time no specific timeline or release has been identified yet for this change.
ArticleNumber:
000062017
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