Escrow Account Disclosure Statement - Document Skill

Extract data from Escrow Account Disclosure Statements — lender, borrower, deposits, and disbursements (insurance, property tax) — for US mortgage servicing.

The Escrow Account Disclosure Statement skill extracts data from escrow account disclosure statements — the documents lenders issue to summarize escrow accounts that receive part of a mortgage borrower’s monthly payment to cover insurance and property tax expenses. The statement records the lender, borrower, deposits made over the reporting period, and the expenses paid from the account.

The Escrow Account Disclosure Statement skill is a preview skill. It has been trained on a limited set of documents and is designed to help you quickly get started with processing escrow account disclosure statements. For production use, you may need to uptrain the skill with your own document samples.

Countries and Languages

Countries	Languages
USA	English

Extracted Fields

Basic Information

Field	Description
Loan Number	The loan identifier.
Disclosure Date	The date of the disclosure.
Property Address	The address of the financed property.

Borrower Information

Field	Description
Borrower Name	The name of the borrower.
Borrower Address	The address of the borrower.
Co-Borrower Name	The name of the co-borrower.
Co-Borrower Address	The address of the co-borrower.

Servicer Information

Field	Description
Servicer Name	The name of the lending organization.
Servicer Address	The address of the lending organization.
Servicer Phone Number	The lending organization’s contact number.

Current Monthly Mortgage Payment (current reporting period)

Field	Description
Effective Date	The date of the payment.
Principal & Interest	The monthly payment size (both principal and interest).
Escrow Deposit	The monthly escrow deposit payment.
Shortage or Surplus	The total payment shortage/surplus for the reporting period.
Optional Insurance	The monthly insurance payment.
Other	Other payments.
Subsidy	The subsidized amount.
Total	The total amount payable for the reporting period.

New Monthly Mortgage Payment (new reporting period)

Field	Description
Effective Date	The date of the payment.
Principal & Interest	The monthly payment size (both principal and interest).
Escrow Deposit	The monthly escrow deposit payment.
Shortage or Surplus	The total payment shortage/surplus for the reporting period.
Optional Insurance	The monthly insurance payment.
Other	Other payments.
Subsidy	The subsidized amount.
Total	The total amount payable for the reporting period.

New Monthly Mortgage Payment Option 2 (new reporting period)

Field	Description
Effective Date	The date of the payment.
Principal & Interest	The monthly payment size (both principal and interest).
Escrow Deposit	The monthly escrow deposit payment.
Shortage or Surplus	The total payment shortage/surplus for the reporting period.
Optional Insurance	The monthly insurance payment.
Other	Other payments.
Subsidy	The subsidized amount.
Total	The total amount payable for the reporting period.

New Monthly Escrow Payment

Field	Description
Monthly Escrow Payment	The size of the monthly escrow payment for the new reporting period.
Effective Date	The date of the payment.

Account Balances

Field	Description
Projected Annual Escrow Payment	The projected total annual escrow payment.
Starting Balance Projected	The projected starting balance of the escrow account.
Starting Balance Required	The required escrow account starting balance.
Projected Escrow Lowest Balance	The projected lowest escrow account balance.
Required Escrow Lowest Balance	The required lowest escrow account balance.
Shortage or Surplus	The escrow shortage or surplus.
Shortage	The escrow shortage.
Surplus	The escrow surplus.

Projected Escrow Account Transactions (repeating group)

Field	Description
Month	The reporting month.
Payments to Escrow	The total payments made to the escrow account.
Payments from Escrow	The total payments made from the escrow account.
Description	Description of expenses covered by money from the escrow account.
Projected Balance	The projected escrow account starting balance for the reporting month (Month).
Required Balance	The required escrow account starting balance for the reporting month (Month).

Key Fields

• Loan Number
• Disclosure Date
• Borrower Name
• New Monthly Mortgage Payment/Total
• New Monthly Mortgage Payment/Effective Date
• New Monthly Escrow Payment/Monthly Escrow Payment

Validation Rules

Rule	Description
Copy Borrower Address to Co-Borrower Address	If the borrower and co-borrower reside at the same address, copies the value of the Borrower Address field to the Co-Borrower Address field.
Check and Complete Projected Annual Escrow Payment	Checks that the value of the Projected Annual Escrow Payment field is equal to the total sum of all payments from the escrow account (Payments from Escrow) over the duration of all reporting periods. If the values are not the same, displays an error message. If the Projected Annual Escrow Payment field is not filled in, fills it in using the sum of the Payments from Escrow fields for all reporting periods.
Separate Currency from Amount	Splits the amount and the currency in the following fields: Starting Balance Projected, Projected Balance, Projected Escrow Lowest Balance, Escrow Shortage Payment.
Copy Min ProjBal to Projected Escrow Lowest Bal	If the Projected Escrow Lowest Balance field is not filled in, fills it in using the lowest value of all Projected Balance fields for the reporting period.
Copy Min ReqBal to Required Escrow Lowest Bal	If the Required Escrow Lowest Balance field is not filled in, fills it in using the lowest value of all Required Balance fields for the reporting period.
Check and Complete Shortage or Surplus	1. If the Shortage or Surplus, Shortage, Projected Escrow Lowest Balance, Required Escrow Lowest Balance fields are not filled in, fills them in using the following value: ReqBal + (- ProjBal). 2. Calculates the values of the Shortage and Surplus fields.