RESPA requires, in in §1024.17(i), that …for each escrow account, a servicer shall submit an annual escrow account statement to the borrower within 30 days of the completion of the escrow account computation year. The servicer shall also submit to the borrower the previous year's projection or initial escrow account statement…. §1024.17(i)(1) goes on to states that …the annual escrow account statement shall provide an account history, reflecting the activity in the escrow account during the escrow account computation year, and a projection of the activity in the account for the next year…. If you read that really closely, you will see that the “annual escrow account statement” is actually comprised of three separate statements of information: last year’s projection, the actual history in the escrow account and a projection for the coming year.
Jerod explains more in the video.
Published 2026/02/16
