How To Input Escrows Into the 2015 Itemization
Establishing the Aggregate Adjustment:
Purchase Instructions: Click on the 2015 Itemization
Aggregate Setup Instructions for a Refinance:
- Inside the 2015 Itemization: Click on the Aggregate Setup tab
- Under Cushion: Put the #2 in both the Taxes column and the Insurance column
- Put a 12 in the Taxes column in December of the current year.
- Put a 12 in the Insurance column for the month that the insurance will renew. If you don't know this date ask the client for a copy of a current declaration page or a recent invoice.
- If Insurance is due within the next 60 days the full annual premium will be collected at closing.
- Your client will receive a refund of their current escrow balance from their current servicing company.