Working in concert with the Loan Servicing, Trust Accounting and ACH Express modules, the Escrow Administration module of The Mortgage Office® fully automates the tasks associated with maintaining escrow accounts on behalf of borrowers. The module also meets or exceeds the accounting and reporting requirements set forth by the Real Estate Settlement Act (RESPA).
The escrow vouchers tab enables you to add, edit, and delete escrow vouchers for all loans. These vouchers can be recurring with varying frequencies. Escrow vouchers may also be placed on hold and/or marked as discretionary.
To add an escrow voucher:
- Click on
Loan Servicing in the left panel of The Mortgage Office®. - Click the Loans drop-down.
- Click All Loans from the menu located on the left of the window.
- From the All Loans grid, select the loan record you want to modify.
TIP: If the record you want to edit is not visible, use the grid's vertical scroll bar to scroll the contents of the grid up or down, or click 
Find to search for the record by entering your own search criteria. For additional information see How to use find and How to use the data grids.
- Click
from the options available on the top panel or double-click on the item. - Click
Terms from the list located on the left of the window, and select the Escrow Vouchers Tab. - Click
New. - In the New Escrow Voucher Assistant, enter the following information:
| Field: | Description: |
| Payee | Enter or select the Vendor that will be paid. |
| Date | Enter the date this escrow obligation is to be paid. |
| Amount | Enter the actual or estimated payment amount for this escrow obligation. |
| Frequency |
Enter the frequency this voucher is to be paid. TIP: For semi-annual installments that are really not due "exactly" 6-months apart, set up individual Yearly vouchers. |
| Ref | Enter a reference number for this voucher. |
| Memo |
Enter the description for this escrow obligation. For Example: Homeowner's Insurance, 1st installment property taxes, etc. |
Hold  |
Enter a check in this box to stop disbursements from being processed. |
| Discretionary |
Enter up to ten digits to identify your company. This field is included in on all pre-notifications. Maximum of 10 characters. |
| Paid |
Check this box to notate the Escrow Voucher already paid. NOTE: If this box is checked, the voucher will not show up in the list of checks to print. |
- Click
OK to save the changes or 
Cancel to abort the changes.