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Performing Escrow Analyses

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Question: 
Currently we perform annual escrow analyses based on the anniversary date of the mortgage, but years ago we only performed analysis during two particular months during the year. What Reg covers this and what is stated regarding analysis? If we wanted to move to a few times a year instead of monthly, we'd have to create either a short or long analysis for customers to accomplish that but I'm hesitant to consider that change.
Answer: 

3500.17 regulates escrow requirements.

If you want to change the computation year you will have to perform a short year analysis.

First published on BankersOnline.com 2/7/11

First published on 02/07/2011

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