Initial Escrow Deposit Calculator

The Initial Escrow Deposit Calculator DNAapp is designed so that whoever handles a loan’s initial deposit – such as Loan Operations staff, branch managers or other – can quickly calculate what the Initial Escrow Deposit is required to cover the Escrow account shortage.

Benefits

The Initial Escrow Deposit Calculator application is designed for Financial Institutions to easily calculate the initial escrow deposit needed to cover the booking of a loan.

The Initial Escrow Deposit Calculator application provides the Financial Institution with the following enhancements when booking a new loan or working with lending prospects:

• Allows the User to quickly and easily calculate the initial deposit prior to booking a loan
• Allows the Loan Operations team member to provide modeling and “What-If” scenarios
• Ability to include Cushion Amount required by the Financial Institution
• User can enter multiple Tax and/or Insurance Records
• Displays both Payment and Disbursement projections
• Can calculate initial deposit required for multiple payment frequencies, including biweekly
• Integrated with DNA Export DNAapp to allow calculation results to be exported out of DNA® and into CSV, Excel and PDF formats