Real Estate Escrow Accounts & Flood Insurance

Compliance Lending Operations

On-Demand Webinar:

StreamedApr 10, 2024Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

See Registration Options

Escrow accounts and flood insurance requirements are just two of the many aspects of real estate lending.

Both present challenges when it comes to proper calculations, notifications, and what to do when things don’t go according to plan. Do you understand the escrow phases and what is required during each? Do all properties in a floodplain require flood insurance? This comprehensive program will dive into all the details.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Describe the uses of short-year escrow statements
Calculate the proper amount of funds allowed for an escrow account
Determine how much flood insurance is required under the regulation
Define the term “designated loan” as it applies to flood insurance
Distinguish between handling escrow shortages and handling escrow deficiencies
Understand the requirements related to private flood insurance

WEBINAR DETAILS

This webinar will cover escrow accounts (also known as impound accounts for taxes and insurance) and flood insurance requirements from beginning to end: from flood insurance determinations and deciding whether insurance is required to handling coverage lapses, from making the initial determination of the amounts needed for an escrow account to handling payments and annual calculations of surplus or deficiency, as well as initial and ongoing notice requirements.

Did you know that not all properties in a designated flood hazard area require insurance? Are you aware of the requirements for escrow accounts when loans are paid off, transferred, or terminated? Whether new or a seasoned pro, this webinar has something for everyone.

WHO SHOULD ATTEND?

This informative session is directed to loan processors, loan officers, loan clerical staff, staff responsible for escrow or flood insurance calculation or maintenance, auditors, and compliance personnel. This webinar will also help you answer borrowers’ questions at closing.

TAKE-AWAY TOOLKIT

Sample notices for flood and escrow accounts
Sample escrow account and flood insurance coverage calculations
Internet links to resources and citations
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.

TESTIMONIALS

"I learned a lot from it. I like that I can have a complete slideshow take away to refer back to. It was easy to access, and the instructor spoke very clearly."

- Nicole, St Jeans Credit Union