Provides an explanation of the escrow account including establishment, analysis and maintenance of the escrow account. Explains the escrow rules for HPMLs and rules pertaining to flood insurance premiums, including transaction and creditors that are exempt from these requirements.
After completing this course, students will be able to:
• Identify the requirements for the establishment and maintenance of escrow accounts
• Discuss the unique requirements for escrow accounts as they pertain to high-priced mortgage loans (HPMLs)
and flood insurance premiums