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#1652874 - 01/19/12 04:35 PM Insurance Cancelled--Now What for Escrow?
La. Lady Offline
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La. Lady
Joined: May 2001
Posts: 1,873
The insurance company cancelled the insurance that we were escrowing. The borrower now has obtained another policy that is quite a bit cheaper than the one we were originally escrowing for. Don't we have to do another analysis?
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Lending Compliance
#1652932 - 01/19/12 05:24 PM Re: Insurance Cancelled--Now What for Escrow? La. Lady
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
You can either do a short year analysis if you want to help your customer out with a lower payment or wait for the annual analysis, at your option.
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#1653024 - 01/19/12 05:54 PM Re: Insurance Cancelled--Now What for Escrow? rlcarey
La. Lady Offline
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La. Lady
Joined: May 2001
Posts: 1,873
Thanks....
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