Attach New Loan to Existing Escrow Account

Follow these steps to attach a new loan to an existing escrow account.

These steps are helpful in cases where a loan has been refinanced, and you need to attach the new loan to the escrow account created with the original loan.

Launch Tool #570 Open/Update Escrow Disbursement Records.
Enter the account base and new loan suffix on the Work With Escrow Account Information pop-up.
Click the forward arrow.
Click the lookup button beside the Dividend application field on the Create New Escrow Account pop-up.
On the Dividend Application pop-up, select the dividend application code that corresponds to the escrow savings product used for the type of loan you're attaching.
Use Select.
Click the lookup button beside the Reason code field on the Create New Escrow Account pop-up.
On the reason code pop-up, select the appropriate reason code (i.e. refinance).
Use Select.
Click the Unlock Fields button on the Create New Escrow Account pop-up.
- This allows you to specify an existing escrow suffix so the system doesn't create a brand new escrow account.
In the Escrow account field, enter the suffix of the existing escrow account.
Leave the Open date field as is.
Click the forward arrow.

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