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#155891 - 02/02/04 05:47 PM Escrow cushion
Tryin-2-Comply Offline
100 Club
Joined: Apr 2003
Posts: 202
Hills of TN
Can you change an account that started with a 1 month cushion to contain a 2 months cushion?

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#155892 - 02/03/04 03:06 AM Re: Escrow cushion
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Yes. You can accomplish this an the time of the annual escrow analysis or by conducting a short-year analysis.
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David Dickinson
http://www.bankerscompliance.com

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#155893 - 02/03/04 02:29 PM Re: Escrow cushion
Tryin-2-Comply Offline
100 Club
Joined: Apr 2003
Posts: 202
Hills of TN
Thank you!!!!!!!

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#155894 - 02/03/04 03:29 PM Re: Escrow cushion
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,553
On the Net
I would add though that you need to see what was contracted for. Are your loan documents specific to a cushion or is it worded such that you have flexibility? I have seen both a reference to a number of months and to a maximum allowable by law.
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
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