Skip to content

How to Notify Customers of Escrow Rate Change

Answered by: 

If we change the escrow rate for our escrow accounts, do we have to send the customers a notification of the rate change like we do when, for example, the rate on an adjustable rate mortgage changes? If so, how long do I have to send it to the customers?

Do you mean the interest rate that you pay on the escrow balance? If so, then interest on escrows is a matter of State law and you will need to refer to the appropriate State statute.

First published on 7/30/12

First published on 07/30/2012

Filed under: 
Filed under compliance as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics