§ 1024.17 Escrow accounts.
(i) If an escrow account analysis discloses a surplus, the servicer shall, within 30 days from the date
- 1024 (Regulation X)
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§ 1024.17 Escrow accounts.
(2) Compute the borrower's monthly payments for the next escrow account computation year and any deposits
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
(iv) The total amount paid out of the escrow account during the same period for taxes, insurance premiums
- 1024 (Regulation X)
§ 1024.35 Error resolution procedures.
(2) Failure to apply an accepted payment to principal, interest, escrow, or other charges under the terms
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
(2) The new servicer shall treat shortages, surpluses and deficiencies in the transferred escrow account
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
(i) In conducting the escrow account analysis using aggregate analysis, the target balances may not exceed
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
target balance for the account shall be less than or equal to one-sixth of the estimated total annual escrow
- 1024 (Regulation X)
§ 1024.38 General servicing policies, procedures, and requirements.
(i) A schedule of all transactions credited or debited to the mortgage loan account, including any escrow
- 1024 (Regulation X)
Comment for 1024.39 - Early Intervention Requirements for Certain Borrowers
obligation with a monthly billing cycle and monthly payments of $2,000 representing principal, interest, and escrow
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
To conduct an escrow account analysis, the servicer shall estimate the amount of escrow account items
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
If the escrow account analysis confirms a deficiency, then the servicer may require the borrower to pay
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
(ii) These provisions regarding surpluses apply if the borrower is current at the time of the escrow
- 1024 (Regulation X)
Comment for 1024.34 - Timely Escrow Payments and Treatment of Escrow Balances
Section 1024.34(b)(1) does not prohibit a servicer from netting any remaining funds in an escrow account
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
(1) A lender or servicer (hereafter servicer) shall not require a borrower to deposit into any escrow
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
The servicer may deliver the annual escrow account statement to the borrower with other statements or
- 1024 (Regulation X)
§ 1024.2 Definitions.
This process may also be called “closing” or “escrow” in different jurisdictions.
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
respect to a borrower whose mortgage payment is more than 30 days overdue, but who has established an escrow
- 1024 (Regulation X)
Comment for 1024.35 - Error Resolution Procedures
of Error” that indicates that the borrower wants to receive the information set forth in an annual escrow
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
The initial escrow account statement need not identify a specific payee by name if it provides sufficient
- 1024 (Regulation X)
Comment for 1024.41 - Loss Mitigation Procedures
because the borrower's interest rate will change to an unknown rate based on an index or because an escrow
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
If a borrower pays off a federally related mortgage loan during the escrow account computation year,
- 1024 (Regulation X)
Comment for 1024.35 - Error Resolution Procedures
foreclosure, as well as errors relating to the crediting of substantially every borrower payment and escrow
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
by the transferor (old) servicer, then the new servicer shall provide the borrower with an initial escrow
- 1024 (Regulation X)
§ 1024.17 Escrow accounts.
(ii) If the deficiency is greater than or equal to 1 month's escrow payment, the servicer may allow the
- 1024 (Regulation X)
Comment for 1024.17 Escrow Accounts
A servicer that advances the premium payment to be disbursed from an escrow account may advance the payment
- 1024 (Regulation X)