Real Estate Settlement Procedures Act (RESPA), the Bureau’s Regulation X, requires lenders, mortgage brokers or servicers of home loans to provide timely disclosures for the transaction. RESPA also sets specific requirements regarding analysis and statements for escrow accounts.
The Real Estate Settlement Procedures Act, Bureau’s Regulation X, sets the requirements for an escrow account that is established in connection with a federally related mortgage loan including the limits using calculations based on monthly payments and disbursements for a calendar year. Regulation X also sets specific requirements regarding analysis and statements for escrow accounts.
In this RESPA: Escrow online training course you will learn when an escrow account is needed and what is included, limits on an escrow account cushion, how to handle shortages, surpluses, and deficiencies, and timing for providing statements.
Course Learning Objectives
By taking this online RESPA: Escrow course, the user will learn to:
- Understand when an escrow account is needed and what is included
- Know the limits on an escrow account cushion
- Understand when analysis is required
- Know how to handle shortages, surpluses, and deficiencies
- Know the timing for providing statements
Course Outline
This online RESPA: Escrow course is made up of the following sections:
- Limits on Payments
- Escrow Analysis Requirements
- Computation Year Analysis
- Statements
- Timely Payments
Course Audience
This RESPA: Escrow online training course was designed for employees and supervisors.
If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.
