1. Lease Origination User Guide
  2. Funding
  3. Contract Tab
  4. Escrow Sub Tab

8.12.8 Escrow Sub Tab

If there is escrow information selected on the Itemization sub screen, enter information about it on the Escrow sub screen. The Escrow sub screen records escrow details regarding disbursement, insurance, and property tax -- information that is parsed to the Customer Service screen on the Customer Service (2) master tab, where it is available for maintenance.

This sub tab is available if escrow is allowed for the instrument selected on the Lease screen.

The Escrow Analysis screen enables you to view and perform the initial escrow analysis. You can perform multiple analyses; however, the system records only the most recent analysis.

To complete the Escrow sub screen
  1. Open the Funding screen and load the application you want to work with.
  2. Click the Contract > Escrow sub tab.
  3. The Escrow Information section displays information regarding the escrow recorded on the Itemization sub screen. In this section, you can perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 8-13 Escrow Information

    Field View
    Escrow The escrow itemization code and description.
    Escrow Type The escrow type.
    Escrow Sub Type The escrow sub type.
    Advance Amt The amount that’s been approved for the Item in the itemization screen under the escrow.
    Required Escrow If selected, indicates that this is mandatory itemization and customer can not opt out of this escrow item.
    Cushion Allowed If selected, indicates that cushion is allowed.
  4. Select the Opt Out box only if you want to ignore this particular escrow.
  5. In the Disbursement section, enter the following information:

    Table 8-14 Disbursement

    Field Do this
    Rule Select disbursement rule.
    Yearly Amt Specify yearly disbursement amount.
    Account #

    Specify reference account number for vendor.

    Note: If the organizational parameter UIX_HIDE_RESTRICTED_DATA is set to Y, this appears as a masked number; for example, XXXXX1234.

    Vendor Specify the vendor name.
    Maturity Dt Specify the maturity date, if one exists.
  6. If this escrow involves an insurance, use the Insurance section to enter the following information:

    Table 8-15 Insurance

    Field Do this
    Coverage Type Specify the coverage type.
    Coverage Term Specify the coverage term.
    Policy # Specify the policy number.
    Coverage Amt Specify the coverage amount.
    Effective Dt Specify the effective date.
    Expiration Dt Specify the expiration date.
  7. If this escrow involves a tax, use the Tax section to enter the following information:

    Table 8-16 Tax

    Field Do this
    Property Tax Type Specify property tax code.
    Comment Specify a comment.
  8. Perform any of the Basic Actions mentioned in Navigation chapter.

Parent topic: Contract Tab