Escrow Administration

Commercial Servicer users experience the highest level of escrow administration automation found in any servicing system.  Whether you fully escrow your loans paying all bills and premiums or simply track to make sure tax and insurance is properly paid on time, you’ll find a wealth of tools to assist you in all areas of escrow administration.

Escrow Buckets

Commercial Servicer allows you to set up unlimited tax and insurance, reserves and other user-defined escrow buckets. Each bucket has a detailed running history of funds moved into and out of it with a corresponding running balance.

Insurance

No matter how many insurance policies you have to track, Commercial Servicer will keep detailed information on each and every one of them. Hazard, flood, key man policies, liability, earthquake, title insurance, and environmental insurance are just some of the insurance policies Commercial Servicer users track and pay.  Detailed policy information with coverage requirements and amounts, deductibles, NAIC carrier, insurance company ratings, and much more, accompany the usual escrow information such as payees, due dates, frequency, amounts due, etc. Task tracking tools verifying evidence of insurance and investor approval along with lender certification, forced place letter and waivers ensure nothing goes unnoticed.

Taxes

Commercial Servicer allows you to track and pay unlimited tax bills and keep detailed information on each bill. Odd due dates and unequal frequency due dates are easily accommodated. A hyperlink to your taxing authorities websites enables easy and convenient tax bill lookup.

Reserves

Create and track unlimited reserve buckets. Some of the reserve types Commercial Servicer users track are interest, sinking funds, operating reserves, leasing holdback, replacement, repair and more.

Other Fees and Expenses

The escrow bucket tool is such a powerful tool that we decided to give our users the ability to create and track unlimited custom type buckets. In addition to the traditional tax and insurance and reserve types of escrows, Commercial Servicer users create buckets for legal fees, unpaid items, REO expenses, etc.

Disbursements

Escrow disbursements may be performed individually or in batches for scheduled tax and insurance payments. Day-end disbursement checks and check registers along with multiple daily disbursement reports makes for easy disbursement account reconciliation.

Escrow Analysis

One of the most labor intensive and confusing aspects of servicing commercial real estate loans can be analyzing your borrowers’ escrow tax and insurance accounts.  Commercial Servicer simplifies the process and eliminates confusion with an easy to understand analysis that your borrowers will completely understand. Analyze loans individually on demand or analyze them all very quickly with the batch analysis tool.

Interest on Escrow

Each individual escrow bucket has its own parameters for calculating interest on escrow giving you the option to pay interest on the buckets you choose and excluding the buckets you don’t want to pay interest on escrow.

Escrow Reports

Tracking escrow is easy with a wide variety of very flexible tax and insurance expiration reports, notices and other detailed escrow activity reports. Check out the sample reports for a look into automating your escrow tracking.

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