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Escrow Checklist

This topic contains 3 replies, has 0 voices, and was last updated by Avatar of melissa melissa 14 years, 5 months ago.

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  • #1330
    Avatar of melissa

    Hi Everyone –

    Some of you may have called me and asked for an estimated cost sheet, which I’m always happy to send. I usually will include a copy of the Escrow Checklist along with this cost sheet. This list includes everything that an escrow officer would require in order to complete your escrow. This seems to work out really well, assuming that the transaction is going through escrow, but escrow is not always necessary for a PACtrust or NEHTrust transaction. Please be aware that you MUST either fax or mail every single item on the checklist to my office in order for me to complete your documentation ESPECIALLY if you are not going through escrow. I will also forward these items to the Trustee, who cannot set up your trust without them. Anyway, here’s the list………..

    1. A COMPLETE copy of the Note and Trust Deed securing the loan(s) of record.

    2. Declaration page of Fire Insurance Policy for the subject property CHANGED TO A LANDLORDS POLICY, showing premium, due date, and expiration date of policy.

    3. Current MONTHLY payment coupon for the underlying trust deed(s) of record

    4. Statement showing current balance and paid to date

    5. Is the underlying Note IMPOUNDED for taxes and insurance? If YES, then we need the last statement showing when the account was last analyzed, if No, then the trust must impound monthly for taxes and insurance.

    6. Copy of the CURRENT Tax Bill

    That’s all! I’ve been having trouble collecting all of this info recently, so hopefully it will help you all to know in advance that I’m going to ask you for it. Thanks a lot!

    -Melissa ;)

    Avatar of Administrator

    Hey, Melissa,

    Great conference call.

    Avatar of melissa

    Thanks for paying attention to this post! It’s an important one!

    As always, please feel free to call me with any questions about it. We’ve recently changed our fee shedule, so be sure to give me a call if you need me to give you an estimated closing cost figure, and don’t forget those checklist items!


    Avatar of joecain

    This is to let all of you know that I have recently revised the Escrow Checklist of items needed to facilitate generating Final Trust Docs:

    Escrow Checklist

    In connection with your Trust, North American Realty Services, Inc. requires the following information and support docs in order to complete documentation for your Trust. Final Documents will not be generated until the items from the following list are submitted to the NARS Documentation Department and all facilitation fees are paid in full.



    Avatar of joecain

    Above is the Escrow Checklist that I often refer to.

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