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Escrow

Sales Tax (Escrow Percentage Fixed)

General. There is more than one way to add sales tax to a loan or lease, but this article specifically addresses adding sales tax through escrow using the percentage-fixed calculation to determine ho…

Updated 1 week ago by Sloan

Escrow Estimated Disbursements

General. Estimated disbursements are the estimated payments you will have to make from the money you collect in an escrow account. Estimated disbursements are used in escrow analysis. How To. To crea…

Updated 1 week ago by Sloan

Create a New Escrow Transaction

General. For many types of loans, you will collect an escrow portion in addition to the principal and interest portions of each payment. Usually, the escrow portion is collected in order to pay an ex…

Updated 2 weeks ago by Sloan

Create a New Escrow Account (Bucket)

General. Escrow accounts, or “buckets,” are created at the company level. Once a bucket is created, you will have the option to use it on all of your loans, although it won’t be required. When you cr…

Updated 2 weeks ago by Sloan

Escrow Overview

General. The escrow functionality is designed to let you add additional amounts to regularly scheduled payments that don’t apply to any other important part of the loan (e.g. interest, principal, dis…

Updated 2 months ago by Sloan

Update Escrow Account Settings

General. LoanPro lets you create up to 25 escrow accounts or ‘buckets’ within your company account. Each escrow bucket has its own group of settings that determine how it will behave in relation to t…

Updated 4 months ago by Cole

Create New Escrow Vendor

General. If you use LoanPro’s escrow functionality, it’s likely you make payments from escrow accounts to specific organizations. Vendors are the organizations that escrow payments are made to. How T…

Updated 6 months ago by Sloan

Create a New Escrow Transaction Category

General. You can log transactions that represent withdrawals and deposits to escrow buckets on individual loans. Additionally, you can assign these transactions to a category to help you more easily…

Updated 6 months ago by Sloan

Create a New Escrow Adjustment

General. Escrow adjustments are the bread and butter of the escrow system. When you create an escrow adjustment, you specify when and in what amount escrow will come due on a loan. An escrow adjustme…

Updated 6 months ago by Sloan

Escrow Calculator

General. The escrow calculator is one of the sections of the loan setup. It can also be accessed in Loan Settings > Escrow inside a customer account. The escrow calculator is designed to help you com…

Updated 6 months ago by Sloan

Escrow Analysis Overview

Escrow analysis helps lenders determine how to collect money into escrow accounts in a way that will be consistent with the law, but also ensure that they will have enough to make needed payments fro…

Updated 7 months ago by Sloan

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