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January 6, 2015
Business Accounts Documentation and Procedures with Beneficial Ownership
Deborah Crawford

January 6, 2015
FFIEC Cybersecurity Initiatives and Observations from the 2014 Assessments
Susan Orr

January 15, 2015
The ABC's of IRAs - The Basic Ingredients
Patrice Konarik

January 20, 2015
B & Z Appraisal Rules - Getting Them Right
Jack Holzknecht

January 21, 2015
HMDA Soup to Nuts
David Dickinson

January 22, 2015
Navigating the Treacherous Waters of IRA Rollovers, Transfers and Beneficiary Payouts
Patrice Konarik

January 28, 2015
Mortgage Life Cycle
Part I
David Dickinson and Jerod Moyer



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#1370759 - 04/07/10 03:04 PM Net escrow balance when quoting payoff?
SSBStephanie Offline
Junior Member

Registered: 04/01/10
Posts: 31
Loc: Iowa
I receive payoff quotes from various banks and a few of them will net the escrow balance when quoting a payoff. Is this legal? I thought that the funds had to be returned to the borrower w/in 60 days of payoff, not netted out.

Does it matter if you net out a negative vs. positive balance?

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Lending Compliance
#1370863 - 04/07/10 04:14 PM Re: Net escrow balance when quoting payoff? [Re: SSBStephanie]
Cowboys Fan Offline
Power Poster

Registered: 12/17/02
Posts: 4480
Loc: SC
This Thread has a good discussion on the subject.
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#1370868 - 04/07/10 04:20 PM Re: Net escrow balance when quoting payoff? [Re: Cowboys Fan]
SSBStephanie Offline
Junior Member

Registered: 04/01/10
Posts: 31
Loc: Iowa
Thanks CF, I did a search and didn't come up with that thread...it is helpful!

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