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#1514434 - 02/24/11 09:36 PM Escrow refund
VRV Offline
100 Club
Joined: Jun 2007
Posts: 173
I have been asked if there is a requirement that a lender has to refund any monies being held in an escrow account to a customer within so many days after the loan is paid off. I can't find anything in RESPA stating this. Am I overlooking it? Could it be a state law?

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Lending Compliance
#1514442 - 02/24/11 09:44 PM Re: Escrow refund VRV
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,761
Bloomington, IN
3500.17(i). You have to provide a short year statement within 60 days from the date of payoff.
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The opinions expressed are mine and they are not to be taken as legal advice.

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