Annual Escrow Account Disclosure Statements can be
generated at any time for an individual or selected group of borrowers. The
two-part statement fully complies with RESPA requirements and includes a
projection of the account's activity for the coming year as well as a side-by-side
presentation of old projection and account history.
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You may also issue a "short-year" annual escrow account
statement to a borrower at any time. Most commonly, short-year statements
are used when a transfer of servicing occurs, or to change a borrower's escrow
account computation year to another.
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