1. Loan Origination Setup Guide
  2. Product
  3. Escrow
  4. Escrow
  5. Escrow

4.23.1.1 Escrow

To setup Escrow
  1. Click Setup > Setup > Products > Escrow > Escrow.
  2. In the Escrow Definitions section, perform any of the Basic Operations mentioned in Navigation chapter.

    Figure 4-25 Escrow Definition


    Description of Figure 4-25 follows
    Description of "Figure 4-25 Escrow Definition"

    A brief description of the fields is given below:

    Table 4-64 Escrow Definitions

    Field Do this
    Escrow Specify the escrow code. This is protected against update and cannot be changed after initial set up.
    Description Specify the escrow description.
    Escrow Type Select the escrow type, usually INSURANCES or TAXES from the drop-down list.
    Cushion Allowed

    Check this box if the escrow you are defining allows for cushion.

    Note: Cushion rules are used to determine how much cushion should be retained.

    Incl 1098 Check this box to include in 1098 reporting.
    Enabled Check this box to enable the escrow definition.
  3. Perform any of the Basic Actions mentioned in Navigation chapter.

Parent topic: Escrow