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Course description

ICB Credit: 2.5 CRCM

There have been several new requirements for escrow accounts, beginning with the Escrow Closing Notice, followed by required escrow for flood insurance premiums (with certain statutory exceptions) and then the notice informing outstanding borrowers of the option to escrow their flood insurance premiums and fees. Compliance with the various rules affecting real estate loan escrow accounts can be a daunting task. In this two-hour presentation, those who work with or audit escrow accounts will get practical information and real-world examples to help establish and maintain escrow accounts in a compliant manner.

This program will discuss:

  • initial escrow disclosures
  • annual disclosures
  • short-year statements
  • pay-off statements
  • refunds upon payoff
  • netting out escrow balances against amounts owed
  • rolling escrow forward from old loan to new loan
  • escrow cancellation notice requirements
  • recent flood escrow requirements

Loan officers and administrative personnel will gain practical knowledge that will save them both time and money. The information presented at this webinar is not typically discussed at compliance seminars or in compliance manuals.

Who Should Attend: This webinar is designed for compliance officers, auditors, loan personnel that prepare settlement documents, for those that answer technical questions at loan closings and for loan operations personnel.



Instructor(s)

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the Center for Financial Training, the American Bankers Association National Compliance Schools and is a frequent speaker at the ABA’s Regulatory Compliance Conference. David is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.David and his wife Karen have 3 adult children (none of whom live at home!) & 3 cats (which Dave is allergic to). They live on a lake in Nebraska and when possible, Dave can be found fishing or in the water. David plays the guitar & piano and enjoys singing with Karen. Together they lead worship at their church.

Course curriculum

  • 1

    Video

    • Escrows: All you need to know
  • 2

    Materials

    • Materials

    • Slides

    • Question and Answers