§ 1024.17 Escrow accounts.
(i) Annual escrow account statements.
- 1024 (Regulation X)
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(i) Annual escrow account statements.
(7) Escrow account. Under the subheading “Escrow Account”:
Definition of escrow account.
(1) Escrow account analysis.
(2) Time of submission of initial escrow account statement for an escrow account established after settlement
Escrow account analysis.
As noted in § 1024.17(c)(2), the servicer shall conduct an escrow account analysis before establishing
(i) As noted in § 1024.17(c)(2) and (3), the servicer shall conduct an escrow account analysis
(j) Formats for annual escrow account statement.
Transferred escrow balances.
Definition of escrow account.
A servicer may issue a short year annual escrow account statement (“short year statement”) to change
(5) Notice of shortage or deficiency in escrow account.
(iii) After an initial or annual escrow analysis has been performed, the servicer and the borrower may
Escrow disclosure.
(2) Escrow analysis at creation of escrow account.
(3) Subsequent escrow account analyses.
(B) A statement of whether the consumer will not have an escrow account, the reason why an escrow account
(1) Contents of annual escrow account statement.
Escrow.
Escrow.
Escrow account computation year is a 12-month period that a servicer establishes for the escrow account
If an escrow account was established in connection with a transaction subject to this paragraph (e) and
(i) A statement informing the consumer of the date on which the consumer will no longer have an escrow
(i) The initial escrow account statement shall include the amount of the borrower's monthly mortgage