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#846489 - 10/31/07 06:05 PM Aggregate Escrow Calculation
wtsjomh Offline
Member

Registered: 06/22/06
Posts: 69
Does anyone have a website or a worksheet to share that will calculate the aggregate escrow for a loan with tax escrow, flood insurance escrow and pmi?

We were sited during an audit and I can't figure out how the auditor got their aggregate amount.

Thanks,
wtsjomh

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#846560 - 10/31/07 07:02 PM Re: Aggregate Escrow Calculation [Re: wtsjomh]
ComplyGuy1 Offline
New Poster

Registered: 09/14/06
Posts: 21
The Escrow Analysis worksheet located here may help...

http://www.bankerscompliance.com/compliance-resources/free-downloads.htm

Also, you can refer to Appendix E of RESPA.

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#846603 - 10/31/07 07:40 PM Re: Aggregate Escrow Calculation [Re: ComplyGuy1]
wtsjomh Offline
Member

Registered: 06/22/06
Posts: 69
thank you. that's the one I already had. our auditor had one from them specifically showing PMI on it (and the formulas that go along with it). we are waiting to hear back from them for a copy of that one.

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#846657 - 10/31/07 08:12 PM Re: Aggregate Escrow Calculation [Re: wtsjomh]
Dan Persfull Offline
10K Club

Registered: 08/28/02
Posts: 45444
Loc: Bloomington, IN
The one from David also has PMI, Flood etc. on it. Look at the bottom of the spreadsheet and select the appropriate worksheet tab.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#846676 - 10/31/07 08:30 PM Re: Aggregate Escrow Calculation [Re: wtsjomh]
Reads Regs Online
Diamond Poster

Registered: 11/15/04
Posts: 2259
Have you looked at the FDIC's RESPA Escrow program? http://www.fdic.gov/regulations/compliance/respa/index.html

Click on the link for the instructions for using their Excel spreadsheet and then click on the link for the Excel spreadsheet.
_________________________
Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#846763 - 10/31/07 10:42 PM Re: Aggregate Escrow Calculation [Re: Dan Persfull]
David Dickinson Offline
10K Club

Registered: 11/28/00
Posts: 18285
Loc: Central City, NE
Originally Posted By: Dan Persfull
The one from David also has PMI, Flood etc. on it. Look at the bottom of the spreadsheet and select the appropriate worksheet tab.


Dan's right. We designed a "quick" escrow analysis for the typical tax and insurance only escrow (see the 1st tab on the Excel program). But we also designed a "long" analysis for loans with PMI, Flood insurance, and other items. You can find it on the 2nd tab. I hope this helps you out.
_________________________
David Dickinson
http://www.bankerscompliance.com

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#2120713 - 03/06/17 08:58 PM Re: Aggregate Escrow Calculation [Re: wtsjomh]
SSpeed Offline
New Poster

Registered: 03/06/17
Posts: 1
Thanks for all who have posted here, the resources are great. I've been trying to find a way to calculate daily simple interest on escrow for the California requirement to pay back 2% interest on escrow per annum. I cant seem to figure out how to back into the Interest on Escrow figures I've got.

I think most banks run a query in the back end that calculates the daily and only reports out the monthly or annual figures, depending on when the report is ran. Is there any way to even calculate this if I wanted to test our figures?

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