Also in newby section....

Does the prior year's "projection" have to be included in the annual statement? In the excerpt from RESPA para i mentions it, but then is followed by the Contents guidance which makes no mention of it. They mention "history" - does that qualify for a projection? If a projection is required, why don't they include it in the Contents paragraph? Severely confusing.

i. Annual Escrow Account Statements. .... The servicer shall also submit to the borrower the previous year's projection or initial escrow account statement. The servicer shall conduct an escrow account analysis before submitting an annual escrow account statement to the borrower.

(1) Contents of Annual Escrow Account Statement. The annual escrow account statement shall provide an account history, reflecting the activity in the escrow account during the escrow account computation year, and a projection of the activity in the account for the next year. In preparing the statement, the servicer may assume scheduled payments and disbursements will be made for the final 2 months of the escrow account computation year. The annual escrow account statement must include, at a minimum, the following (the items in paragraphs (i)(1)(i) through (i)(1)(iv) must be clearly itemized):