Episys® Escrow Module™
A fully automated escrow solution for lenders
When an escrow account is required on a loan, an additional payment is required on top of the standard loan payment. This extra payment typically covers real estate taxes and insurance. The Escrow module automates the escrow payments and disbursements, as well as the periodic account analysis. It updates the borrower’s records when tax or insurance bills come in.
Additional features include escrow support for all Episys interest types including 30/360, Actual/365 and Actual/360. The module also supports standard, data-only, and laser escrow analysis statement formats.
Core compatibility: Episys
What It Does
- Automates escrow requirements related to real estate expenses.
- Provides support for interest types including 30/360, Actual/365, Actual/360, and various payment frequencies
- Supports the member escrow analysis statements in three formats.
- Defines thousands of escrow disbursement payees.
- Automates the production of escrow disbursement checks.
- Optionally includes escrow balances in loan payoff inquiries and transactions.
What It Does For You
- Saves time and money by automating the escrow process.
- Supports on-demand and batch Anticipated Analysis reporting.
- Calculates analysis in compliance with RESPA.