Thursday Morning - Quality over Quantity brought to you by ill

Jeep99tj said:
Who do you work for?
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Flavortown Tebow said:
You're not sure how it's mind blowing how I can receive an escrow refund, yet the lender isn't paying the insurance company?

Bruce Springsteen Ok GIF by Apple Music
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It’s two different things. The servicer is required to perform an escrow account reconciliation to make sure they aren’t escrowing too much or too little. That isn’t the same as making sure they have the right insurer information.
 
williewilliejuan said:
It’s two different things. The servicer is required to perform an escrow account reconciliation to make sure they aren’t escrowing too much or too little. That isn’t the same as making sure they have the right insurer information.
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So the servicer isn't the one sending money to the insurance company?
 
williewilliejuan said:
They are, but it’s likely a completely different group than performs the escrow reconciliation.
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Yet the same company...

So, it's pretty fair to be mind blown that a company can send checks for excess that doesn't pay the bills they are responsible for...
 
williewilliejuan said:
They are, but it’s likely a completely different group than performs the escrow reconciliation.
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Also, the reason for the escrow refund was the non-payment of insurance. I would not be surprised if his monthly payment goes up to cover the escrow shortage.
 
Flavortown Tebow said:
Yet the same company...

So, it's pretty fair to be mind blown that a company can send checks for excess that doesn't pay the bills they are responsible for...
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It’s not surprising at all if you know how these places work. Most servicers are huge and their employees are siloed in very narrow functions. The people who do escrow reconciliation wouldn’t know anything about the actual payment processes.
 
williewilliejuan said:
It’s not surprising at all if you know how these places work. Most servicers are huge and their employees are siloed in very narrow functions. The people who do escrow reconciliation wouldn’t know anything about the actual payment processes.
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he's not a person capable of understanding nuances
 
Flavortown Tebow said:
Yet the same company...

So, it's pretty fair to be mind blown that a company can send checks for excess that doesn't pay the bills they are responsible for...
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Do you know if the refund was due them not paying?
 
Kburjr said:
Also, the reason for the escrow refund was the non-payment of insurance. I would not be surprised if his monthly payment goes up to cover the escrow shortage.
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Is it though

@Flavortown Tebow how much was your escrow refund?

lets get to the bottom of this
 
Douche, I found a new investment for you.

WTF coin
 
PnkPanther said:
Is it though

@Flavortown Tebow how much was your escrow refund?

lets get to the bottom of this
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Yes. The escrow fund is nothing more than a specialized savings account. The servicers uses Flavir's savings to pay the insurance. Since they did not make the payment, there was a surplus of Flavir's money sitting there that the bank refunded. Now, they have to collect enough to make that payment.

Bottom line is that Flavor is paying his insurance through a 3rd-party arrangement.
 
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