ExpertGlossary

• The accounting that a mortgage servicer performs to determine the appropriate balances for the escrow account, compute the borrower's monthly escrow payments, and determine whether any shortages, surpluses or deficiencies exist in the account.
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• Browse Related Terms: Buydown, Co-Signed Account, Escrow, Escrow Account, Impound account, Individual retirement account (IRA), inflation, Lease Purchase (Lease Option), Servicer, Servicing, Trust account, Vested

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