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August 5, 2015
HMDA – Beyond the Input
Patricia Cashman

August 11, 2015
ABCs of HSAs
Whitney Johnson

August 12, 2015
Part I: Flood Insurance - Everything You Need To Know (including June 2015 Rules)
David Dickinson and Jerod Moyer

August 13, 2015
Currency Transaction Report (CTR): Line-By-Line for Tellers
Deborah Crawford

August 18, 2015
Disaster Recovery Revisited: 5 Things You May Not Have Considered (for a while)
David Reed

August 20, 2015
Automated Monitoring Systems: Implementation to Validation
Brian Crow

August 25, 2015
MasterCard & Reg E Error Resolution
Brian Crow



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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: 4499
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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