Setting Up Escrowed Accounts for Loans that were Previously Non-Escrow

Setting Up Escrowed Accounts for Loans that were Previously Non-Escrow

This procedure sets up escrow accounts, for loans that were previously non-escrowed loans, to pay taxes and insurance.
  1. Set up the tax and insurance records for the loan in the New Tax or New Insurance screen in Tracking.
  2. Enter the current date in the Last Analyzed field in Customer Service.
  3. Set up a batch with the appropriate batch criteria in Analysis.
  4. Add the loan to the new batch.
  5. Run the trial calculations.
  6. Verify the calculations.
  7. Run the Final update.
  8. Mail the analysis statement to the borrower.
Note: You can review Servicing Director help topics for additional details.

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