The Estimated Taxes, Insurance, and Assessments section within the Projected Payments Table on the Closing Disclosure is often a cause of confusion. Not only do you need to come up with the correct amount to disclose, you need to tell the borrower what all is included in that amount. You also need to answer the “In Escrow?” field with either “yes”, “no” or “some”.
Jerod explains more in the video.
Video Highlights:
- This section of the Closing Disclosure has three boxes labeled property taxes, homeowners’ insurance, and other.
- When disclosing whether money is being escrowed, the answer could be “yes”, “no” or “some.
Published
2023/03/10
