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Escrow Loan Acquisition Requirements

Q: Should an escrowed loan be audited and reanalyzed upon acquisition?

A: It is not required, but highly advisable due to the following: 
  • It may identify inaccuracies at set up by the prior servicer or originator (i.e. tax amounts, frequency, missed second parcels, undiscovered non-county jurisdictions, etc.),
  • It may identify missed tax/insurance disbursements due to inaccurate set up,
  • It may reduce the opportunity for the escrow account to go into an advance situation due to inaccurate collection or reserve setting,
  • It may reduce the chance of the loan exceeding the 12 months between analyses,
  • It may advance the timing of identifying and recovering escrow shortages, and
  • It may reduce the affect an unanticipated escrow shortage has on a delinquent loan.


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