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How are escrow shortages or overages handled?

escrow handled overages shortages
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How are escrow shortages or overages handled?

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We are required by the Real Estate Settlement Procedures Act (RESPA) to annually analyze each of our borrowers’ escrow accounts to 1) ensure that we are collecting enough escrow, 2) to identify any escrow overage situations, and 3) to determine if an escrow shortage exists.

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