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#2189369 - 08/16/18 03:35 PM Analysis
George Offline
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I have a loan that is set to mature a month prior to the end of the next analysis that is due (if that makes sense). I'm trying to figure out how to go about this; do I need to change anything or just run the analysis as normal?

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Escrows on Higher-Priced Mortgages
#2189872 - 08/21/18 01:42 PM Re: Analysis George
John Burnett Offline
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John Burnett
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Is it a balloon note, or is it scheduled to pay off with the maturity?
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#2190345 - 08/23/18 05:42 PM Re: Analysis George
Andy_Z Offline
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I don't see how you could project the escrow period to continue to run. What if it is 11 months and not 1? Would extending it mislead the consumer to believe they were still under an obligation, and that the bank will be paying the taxes and insurance 1 month after maturity, or that a renewal is automatic and guaranteed? Or would you add a disclaimer that this is not intended to infer a new loan will be made?

I would believe this would have to show the accurate projection based on the loan terms and a new statement issued with a new loan, if there is one.
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#2195308 - 10/12/18 02:20 PM Re: Analysis George
George Offline
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I just now realized that I never followed up on this! John, to answer your question, the loan is scheduled to payoff with the maturity (no balloon).

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#2195397 - 10/15/18 01:45 PM Re: Analysis George
John Burnett Offline
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Do your normal analysis or, if the maturity falls, as you have said, within that one-year period, through the date of the last scheduled payment. Include all disbursements through the maturity date of the loan. It's likely there will be a balance in the escrow account when the loan is paid off. You'll need to get that remitted back to the borrower right away if that is the case.
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#2195418 - 10/15/18 05:25 PM Re: Analysis George
George Offline
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Thank you sir, I greatly appreciate your help!

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