§ 1024.17 Escrow accounts.
If a servicer advances funds to an escrow account to ensure that the borrower's hazard insurance premium
- 1024 (Regulation X)
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If a servicer advances funds to an escrow account to ensure that the borrower's hazard insurance premium
servicer should collect and pay, in a timely manner as required by § 1024.34(a), or to refund an escrow
The cushion is two months of the borrower's escrow payments to the servicer or a lesser amount specified
payment of a mortgage loan in full, a servicer shall return to the borrower any amounts remaining in an escrow
(1) If the terms of any federally related mortgage loan require the borrower to make payments to an escrow
For example, an average charge may not be used for transfer taxes, interest charges, reserves or escrow
beginning on the date a periodic payment sufficient to cover principal, interest, and, if applicable, escrow
If at the time the servicer conducts the escrow account analysis the borrower is more than 30 days overdue
the date an amount sufficient to cover a periodic payment of principal, interest, and, if applicable, escrow
A servicer is considered unable to disburse funds from a borrower's escrow account to ensure that the
(iii) These provisions regarding deficiencies apply if the borrower is current at the time of the escrow
allocation, a servicer may provide a printed screen-capture showing amounts credited to principal, interest, escrow
assumes that the borrower will make monthly payments equal to one-twelfth of the estimated total annual escrow
force-placed insurance is less than the amount the small servicer would need to disburse from the borrower's escrow
from a borrower pursuant to the terms of any federally related mortgage loan, including amounts for escrow
mortgage loan obligation provides that a periodic payment sufficient to cover principal, interest, and escrow
Facts: A, a mortgage lender is affiliated with B, a title company, and C, an escrow company and offers
(3) For the payment of property taxes from the escrow account, if a taxing jurisdiction offers a servicer
If the loan balance will increase only because escrow items are being paid through the loan balance,
To the extent a loan originator requires that such insurance be part of an escrow account, the amount