Apr 10, 2024
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.
Wednesday April 10th, 2024
11:00am - 12:00pm EST
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
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
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.
Mary-Lou Heighes
COMPLIANCE PLUS, INC.
Live $255
On-Demand $255
Live + On-Demand $375
AyZha Hazelwood, Education Meeting Coordinator
Ahazelwood@indiana.bank
317-387-9380