We are pleased to provide you with a new report designed to help you understand, project and plan for the management of your escrow advances, such as the one recently caused by the Covid-19 pandemic. Beginning with August, your monthly Escrow Advance Projection Report (EAPR) can be obtained via the following naming convention: Report Name: YYYYMMDD_TI_Advance_Projections_(client id)_(client_name).xlsx and will be available on the second business day of every month.
The EAPR is comprehensive and includes the assumptions we used in our model so you can compare them against your own projections. Our report also includes a 12-month rolling estimate (month-by-month) of escrow advance needs, thereby helping you to plan cash flow requirements well in advance of being billed for the advances monthly. EAPR will also provide better visibility into loan-level data on your escrow advances.
We believe this report will provide the details you need to more effectively anticipate and react to any forecasted escrow advances. It will also assist you in planning for escrow funding requirements and establishing best practices regarding escrow collection and oversight.