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
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Summary of anticipated and actual annual disbursements from your escrow account.
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These amounts are determined by information provided by your insurance company and local tax authority.
Click image to enlarge.
Click image to enlarge.
B. Mortgage Payment Breakdown
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Principal & Interest Payment: Determined by your loan agreement.
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Escrow Payment: Payment that goes into your escrow account so we can pay your tax and insurance bills each year.
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Other Funds Payment Contractual: Collection for any other payments made.
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Assistance Payment: Temporary relief from outside agencies for homeowners experiencing hardships.
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Payment: Collection of the shortage in your escrow account for the next year's tax and insurance bill.
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Total Monthly Payment: The total monthly payment, including principal, interest, escrow, and other funds.
C. Annual Escrow Account Breakdown – Projections for Coming Year
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Payment to Escrow: Your monthly payment into your escrow account.
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What We Expect to Pay Out: the payments we expect to send to your insurance company and local tax authority to pay your bills.
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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
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What the escrow balance is expected to be at the beginning of this upcoming computation period.
E. Escrow Account History
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Payment information for (up to) the 12 months prior to the effective date of this statement.
Click image to enlarge.
Click image to enlarge.
F. New Escrow Payment Calculation
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Unadjusted Escrow Payment: The anticipated yearly amount to be paid from escrow, divided into 12 equal payments.
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Surplus Reduction: If there is a surplus of less than $50.00, this amount may reduce your escrow payment.
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Shortage Installment: If there is a shortage, this amount will be added to your escrow payment to cover the shortfall.
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New Escrow Payment: The final escrow payment amount including any adjustments for shortages or surpluses.