Updating New Payment Amount after Escrow Shortage has been Paid

Updating New Payment Amount after Escrow Shortage has been Paid

You want to update the new payment amount on a loan after escrow shortage has been paid.
  1. Select the System Administration Application.
  2. Expand Analysis > End of Day Updates.
  3. Drag the Analysis Shortage Payments Update over to your Scheduled Events.
    Note: No Criteria Necessary for this Event.
  4. Select Run.
This update Identifies all qualified exception escrow payments that patch the most recent Escrow analysis shortage amount for each loan.
If the amounts match and the payment is received within two months of the analysis date, the borrower's payment is reduced by the calculated shortage spread amount from the analysis
This Analysis Shortage Payments Update Event should be scheduled to run daily.

ArticleNumber:

000050739

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