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#2172509 - 04/09/18 02:54 PM Escrow Surplus
Banker57 Offline
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Joined: Jul 2010
Posts: 439
Minnesota
Borrower has the loan on a rental residence. The renter is the one making the loan payments as they have a contract for deed agreement on the property. The escrow now requires we return the surplus amount. Who do we send it to? Technically it is not the borrowers funds as the borrower did not make the payments.

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Escrows on Higher-Priced Mortgages
#2172518 - 04/09/18 03:24 PM Re: Escrow Surplus Banker57
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,215
Galveston, TX
You don't care who makes the payments via a side agreement. The borrower is the borrower.
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#2172526 - 04/09/18 03:52 PM Re: Escrow Surplus Banker57
Banker57 Offline
Gold Star
Joined: Jul 2010
Posts: 439
Minnesota
Thank you! Much appreciated.

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