I have a couple questions regarding mortgage loans with contractural bi-weekly payments:

1. Is the aggregate escrow analysis computed using bi-weekly payments or monthly payments? I cannot find any references to this in RESPA. All of their examples assume monthly payments and disbursements, not bi-weekly payments with monthly disbursements.

2. Are there any other required disclosures? I would think that the Note and the TIL would suffice in disclosing the payments since they are not "irregular."

I hope I am clear on these questions. Any help would be greatly appreciated.

1. RESPA says that I have to use "month end accounting" [see 3500.17(c)(4)(ii)]. This means that the timing of disbursements and payments within the month is irrelevant. HUD also provides a sample of an escrow with biweekly payments:
http://www.hud.gov/offices/hsg/sfh/res/appendixh1.pdf

2. I am not aware of any other disclosures that would be required.

Thanks for your reply, David. I do have one more question. The FNMA Note (page 1) has two blanks under "Terms." The first blank states "If I make all my Biweekly Payments on time, and pay all other amounts owed under this Note, I will repay my loan in full on _______. If, on _______, (insert applicable 15-, 20-, or 30-year Maturity Date based on a monthly repayment schedule,.........."

Would you complete the first blank with the actual payoff according to the Biweekly schedule and complete the second blank with the appropriate amortization date (15-, 20-, 30-year)? In other words, there will be two different dates?

Thanks.

It depends on how you compute your payment schedule. If you calculate a monthly payment and then declare that half this amount is due bi-weekly, then the customer pays off early. If you calculate a true bi-weekly payment, then s/he pays off in the number of bi-weeks you used in your calculation.