Wednesday, February 17, 2010

Hey, Stewart from GA...

you're welcome and thanks for taking a moment to call.

Stewart is a loan officer who found this post  about calculating escrow, used the formula and found that he could predict the escrows with good accuracy rather than having to guess.  He has since created a bit of software so he could ditch the pencil and paper.

The funny thing about escrow calculation is that most everyone uses software and so that's why most everyone doesn't know the "how to" formula!  LOL  You, dear readers, have the secret.

Stewart, you're a pro.


Jen said...

If we did a closing 2 years ago, and still have not issued policy (as we are no longer with that underwriter) can we issue policy on another UW as long as we order a search from them...?

Diane Cipa said...

You need to get a policy issued pronto to protect the interests of the insured. If the old underwriter is still in business, I would contact them first because there is a marked up commitment out there in their name, which coupled with a HUD showing the consumer paid a premium for coverage created risk. With that in mind, I think they deserve the premium. I'm certain they will find a way to create that policy even though you are not a current agent.

If the underwriter is no longer in business, I would contact your current underwriter, explain what happened and let them guide you through the issuance.

Good luck and thanks for not just pushing the mistake under the rug. ;)