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Sample: Annual Escrow Account Statement Sample ONLY

The document is a sample annual escrow account statement that provides projections for escrow payments and balances for the next 12 months, and includes explanations of deficiencies, shortages, surpluses and an account history for the past year.

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johnbombom
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197 views2 pages

Sample: Annual Escrow Account Statement Sample ONLY

The document is a sample annual escrow account statement that provides projections for escrow payments and balances for the next 12 months, and includes explanations of deficiencies, shortages, surpluses and an account history for the past year.

Uploaded by

johnbombom
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Annual Escrow Account Statement Sample ONLY

All inputted data is fictitious.

1. Payments to Escrow Account


Monthly amount we expect to add to your
mortgage payment to fund your escrow
account

2. Payments from Escrow Account


Amounts we expect to pay from your
escrow account when your tax and
insurance bills are due

3. Description
The bills we expect to pay

4. Projected Escrow Balance

E
(including Required Starting Balance)
We project the payment amounts to and

PL
from your escrow account for each of the
next 12 months. The lowest balance in any
given month ($1,004.16 in this example)
should be less than double the monthly
payment to your escrow account (the
maximum would be $2,008.32 in
this example).
M
In this example, monthly payments to your
escrow are projected to be $1,004.16 for
the next 12 months. We require an extra
SA

month’s payment in case of any increases to


your bill amounts. As a result, our projection
requires a balance of $2,008.36 in the
account in the first month. To meet this
requirement, you need a starting balance of
$1,004.20 in the account.

5. Deficiency, Shortage, and


Surplus Explanations
You may have a surplus or deficiency from
the actual amounts paid in the prior year (in
this example, the member has a deficiency
of $33.80). When there is a deficiency, you
will not have enough money to cover the
starting balance. You will therefore have a
shortage.
If you have a deficiency and shortage, we
can add it to the escrow portion of your
mortgage payment. You can also pay it to
us directly. If you have a surplus of $50.00
or less, it will remain in your escrow
account. A surplus of more than $50.00
will be refunded to you.

UNFCU | serving the people who serve the world ® Page 1 of 2


Annual Escrow Account Statement Sample ONLY (continued)

6. Account History
For the past 12 months, compare actual
payments to and from your escrow
account to the projections we had made.
In this example, the member ended the
last year with a shortage of $33.80. This
amount was carried over to the next year
as a deficiency.

7. Calculating Your Projections


This explains how the ‘projected payments
to escrow’ were calculated last year.

E
PL
M
SA

UNFCU | serving the people who serve the world ® Page 2 of 2

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