Managing Escrow from Application Through Loan Payoff

A critical component of consumer real estate lending is complying with escrow requirements. Join us as we explain the fundamentals and share resources to manage the escrow process.

Tuesday, June 4th, 2024
1:30 pm - 3:00 pm
Presented by Molly Stull
2 CRCM Credits
$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • General Compliance
  • Lending
  • Lending Compliance
  • Mortgage Lending
  • Compliance Officer
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Mortgage Lender

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Escrow: Your borrowers either want it or don’t. Your bank may or may not require it on all consumer real estate loans, and some regulations require it but provide an exception!

Escrow accounting and disclosure rules are complex and addressed by multiple regulations which include RESPA, Regulation Z, and the Flood Disaster Protection Act. This session will give you the tools needed to nail down the numerous accounting and disclosure requirements.

The escrow discussion includes properly disclosing taxes, insurance, and other items on the required TRID documents, how to generate the initial escrow account statement, and numerous components of managing the escrow account after origination. The escrow analysis process, including how to resolve shortages, surpluses, and deficiencies, will be explained. Lastly, examiner-identified escrow accounting rule violations will be reviewed to ensure that these weaknesses don’t exist in your processes.

If you are looking to dive into escrow compliance, this session will contain the checklists and tools needed to ensure your institution has a solid foundation of the regulatory requirements, but most importantly, knowing where to look to resolve questions.

What You'll Learn

  • Properly disclose escrow items on the LE and CD utilizing TRID rules
  • Generate an accurate initial escrow account statement
  • Understand the differences between single-item and aggregate analysis
  • Determine if the cushion limits comply with either the contractual or regulatory requirements
  • Resolve shortages, surpluses, or deficiencies resulting from escrow analysis
  • Perform system testing to ensure software systems are accurately conducting escrow account analysis
  • Identify escrow requirements under RESPA, TILA, and the Flood Disaster Protection Act
  • Review escrow statements for required content
  • Test for examiner-identified escrow accounting rule issues

Who Should Attend

This informative session is designed for compliance officers, auditors, and lending personnel that disclose, calculate, and analyze escrow information for mortgage loans.

Molly Stull

Instructor Bio

Molly began her banking career on the teller line while working on her undergraduate degree and has continued working in the financial industry ever since. Some of her experience includes roles in operations, business resumption planning, consumer compliance, and conducting audits. Her favorite role is ensuring that her audience, whether on the sports field or in the financial industry, understands the "why" behind the rule. Her wealth of financial knowledge and her numerous years of experience enable her to relate the material to the audience.

Continuing Education Credit Information

Managing Escrow from Application Through Loan Payoff has been approved for 2 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.