Escrow Analysis
This guide outlines your Annual Escrow Account Disclosure Statement. It contains your mortgage payment breakdown, escrow calculations, escrow history, and more.
A. Escrow Trend
- Summary of anticipated and actual annual disbursements from your escrow account.
- These amounts are determined by information provided by your insurance company and local tax authority.
B. Mortgage Payment Breakdown
- Principal & Interest Payment: Determined by your loan agreement.
- Escrow Payment: Payment that goes into your escrow account so we can pay your tax and insurance bills each year.
- Other Funds Payment Contractual: Any other payments made.
- Assistance Payment: Any additional collections Shortage.
- Payment: Covers the shortage in your escrow account for the next year’s tax and insurance bills.
- Total Monthly Payment: The total monthly payment, including principal, interest, escrow, and other funds.
C. Annual Escrow Account Breakdown – Projections for Coming Year
- Payment to Escrow: Your monthly payment into your escrow account.
- What We Expect to Pay Out: the payments we expect to send to your insurance company and local tax authority to pay your bills.
- The minimum balance is highlighted. This amount is determined by information provided by your insurance company and local tax authority.
D. Anticipated Beginning Balance Calculation
- What the escrow balance is expected to be at the beginning of this upcoming computation period.
E. Escrow Account History
- Payment information for (up to) the 12 months prior to the effective date of this statement.
F. New Escrow Payment Calculation
- Unadjusted Escrow Payment: The anticipated yearly amount to be paid from escrow, divided into 12 equal payments.
- Surplus Reduction: If there is a surplus of less than $50.00, this amount may reduce your escrow payment.
- Shortage Installment: If there is a shortage, this amount will be added to your escrow payment to cover the shortfall.
- New Escrow Payment: The final escrow payment amount including any adjustments for shortages or surpluses.
OPTION 2:
A. Escrow Trend
- Summary of anticipated and actual annual disbursements from your escrow account.
- These amounts are determined by information provided by your insurance company and local tax authority.
B. Mortgage Payment Breakdown
- Principal & Interest Payment: Determined by your loan agreement.
- Escrow Payment: Payment that goes into your escrow account so we can pay your tax and insurance bills each year.
- Other Funds Payment Contractual: Any other payments made.
- Assistance Payment: Any additional collections Shortage.
- Payment: Covers the shortage in your escrow account for the next year’s tax and insurance bills.
- Total Monthly Payment: The total monthly payment, including principal, interest, escrow, and other funds.
C. Annual Escrow Account Breakdown – Projections for Coming Year
- Payment to Escrow: Your monthly payment into your escrow account.
- What We Expect to Pay Out: the payments we expect to send to your insurance company and local tax authority to pay your bills.
- The minimum balance is highlighted. This amount is determined by information provided by your insurance company and local tax authority.
D. Anticipated Beginning Balance Calculation
- What the escrow balance is expected to be at the beginning of this upcoming computation period.
E. Escrow Account History
- Payment information for (up to) the 12 months prior to the effective date of this statement.
F. New Escrow Payment Calculation
- Unadjusted Escrow Payment: The anticipated yearly amount to be paid from escrow, divided into 12 equal payments.
- Surplus Reduction: If there is a surplus of less than $50.00, this amount may reduce your escrow payment.
- Shortage Installment: If there is a shortage, this amount will be added to your escrow payment to cover the shortfall.
- New Escrow Payment: The final escrow payment amount including any adjustments for shortages or surpluses.