The Escrow Administration module helps you automate the maintenance of escrow accounts on behalf of borrowers. This module meets or exceeds the accounting and reporting requirements set forth by the Federal Real Estate Settlement Procedures Act (RESPA). Using The Mortgage Office’s powerful Escrow Administration features, you can:
Collect and track escrow payments Schedule escrow payables and manage timely payments of escrow obligations Quickly produce Annual Escrow Account Disclosure Statements Cover unanticipated disbursements, and handle shortages, surpluses and deficiencies Eliminate all of the complicated tasks involved with complying with federally mandated regulations
The Escrow Administration module lets you automate the whole process of maintaining escrow accounts, letting you produce disclosure statements in seconds. It’s just one more tool in The Mortgage Office suite of comprehensive mortgage software solutions.
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