Initial Escrow Deposit Calculator

Initial Escrow Deposit CalculatorIntEscrowStmCalc.dnaxExtension ID 517970d4-3325-447a-801f-a94e2ba2d5e1

Initial Escrow Deposit CalculatorFiserv 2016 Fiserv, Inc. or its affiliates. All rights reserved. This work is confidential and its use is strictly limited. Useis permitted only in accordance with the terms of the agreement under which it was furnished. Any other use,duplication, or dissemination without the prior written consent of Fiserv, Inc. or its affiliates is strictly prohibited.The information contained herein is subject to change without notice. Except as specified by the agreementunder which the materials are furnished, Fiserv, Inc. and its affiliates do not accept any liabilities with respect tothe information contained herein and is not responsible for any direct, indirect, special, consequential orexemplary damages resulting from the use of this information. No warranties, either express or implied, aregranted or extended by this document.http://www.fiserv.comFiserv is a registered trademark of Fiserv, Inc.Other brands and their products are trademarks or registered trademarks of their respective holders and shouldbe noted as such.Initial Escrow Deposit Calculator011920162

Initial Escrow Deposit CalculatorFiservOverview:The Initial Escrow Deposit Calculator application is designed so that whoever handles aloan’s initial deposit – such as Loan Operations staff, branch managers or other – can quicklycalculate what the Initial Escrow Deposit is required to cover the Escrow account shortage.Key Benefits:The Initial Escrow Deposit Calculator application is designed for Financial Institutions toeasily calculate the initial escrow deposit needed to cover the booking of a loan.The Initial Escrow Deposit Calculator application provides the Financial Institution with thefollowing 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 aloan.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, includingbiweekly.Integrated with DNA Export DNAapp to allow calculation results to be exported out ofDNA and into CSV, Excel and PDF formats.Processing:The Initial Escrow Deposit Calculator requires the User to have access to the AuthorizationItem CALC–Calculator.The Initial Escrow Deposit Calculator will be located on the Calculators navigation menu inthe relationship module, with the ability to calculate the amount of an initial escrow depositbased on user input values. The required values are Payment Frequency and Payment StartDate and Cushion Months.Initial Escrow Deposit Calculator011920163

Initial Escrow Deposit CalculatorFiservAfter the payment information is entered, the User is required to enter at least one completetax or insurance record. In the Tax Type dropdown, the User selects a specific tax they wishto use for their initial deposit calculation. Also the options of the payment amount and thefrequency of the tax must be entered. The User has the capability to enter multiple tax orinsurance records.In the Insurance Payment section, the User selects the Insurance Type from the dropdown.The User then selects a specific insurance they wish to use for their initial deposit calculation.Also the options of the payment amount and the frequency of the insurance payment must beentered. Once an insurance type is entered, the Include in Cushion field will dynamicallypopulate based on whether or not the insurance type selected is allowed to be used in theCushion Amount.Once the Tax and/or Insurance records are entered, the User selects “Query” button whichwill run the calculation and populate the Initial Escrow Deposit Calculator-Result screen. TheProjection of Payment display grid will display the 12-month Escrow Analysis projection.Initial Escrow Deposit Calculator011920164

Initial Escrow Deposit CalculatorFiservThe grid will display in columns from left to right; Month, Paid In, Paid Out, Balance,Cushioned Balance, With Initial Deposit and Description. The Initial Deposit Required displaygrid will display the Projected Payment, Cushion Amount and the Initial Deposit Requiredbased on the Tax and Insurance records input by the User.Application Messages:The following application message is triggered when any portion of a Tax or Insurance recordis incomplete and a calculation is trying to be processed, when the Query button is enabled.The message will be: “Please ensure that partially filled record is either completed orremoved”.Initial Escrow Deposit Calculator011920165

Initial Escrow Deposit CalculatorFiservThe following application message is triggered when the Payment Start Date, Tax orInsurance first Disbursement date entered has a value less than the Current Post Date andthe Query button is selected. The message will be: “Date entered cannot be less than Current Post Date ”.Screens:Navigation:Services Relationships Module Calculators Initial Escrow Deposit CalculatorScreen Appearance (Initial Escrow Deposit Calculator):Initial Escrow Deposit Calculator011920166

Initial Escrow Deposit CalculatorFiservField ListingFieldDescriptionPayment FrequencyThe frequency the escrow payment will be made (monthly, biweekly, quarterlyetc.).Payment Start DateThe first date of the escrow analysis.Cushion MonthsThe overage allowance the lender requiresTax PaymentTax Type 1The selected Tax Type used for the initial deposit required.Tax Payment 1The payment amount for the selected Tax Type.Frequency 1The frequency of which the Tax Payment will be made.1st Disbursement 1The date that the 1st disbursement will be released.Tax Type 2The selected Tax Type used for the initial deposit required.Tax Payment 2The payment amount for the selected Tax Type.Frequency 2The frequency of which the Tax Payment will be made.1st Disbursement 2The date that the 1st disbursement will be released.Tax Type 3The selected Tax Type used for the initial deposit required.Tax Payment 3The payment amount for the selected Tax Type.Frequency 3The frequency of which the Tax Payment will be made.1st Disbursement 3The date that the 1st disbursement will be released.Insurance PaymentInsurance Type 1The selected Insurance Type used for the initial deposit required.Insurance Payment 1The payment amount for the selected Insurance Type.Frequency 1The frequency of which the Insurance Payment will be made.1st Disbursement 1The date that the 1st disbursement will be released.Include in Cushion 1A Y/N field that dynamically populates based on the Insurance Type selected.Insurance Type 2The selected Insurance Type used for the initial deposit required.Initial Escrow Deposit Calculator011920167

Initial Escrow Deposit CalculatorFieldFiservDescriptionInsurance Payment 2The payment amount for the selected Insurance Type.Frequency 2The frequency of which the Insurance Payment will be made.1st Disbursement 2The date that the 1st disbursement will be released.Include in Cushion 2A Y/N field that dynamically populates based on the Insurance Type selected.Insurance Type 3The selected Insurance Type used for the initial deposit required.Insurance Payment 3The payment amount for the selected Insurance Type.Frequency 3The frequency of which the Insurance Payment will be made.1st Disbursement 3The date that the 1st disbursement will be released.Include in Cushion 3A Y/N field that dynamically populates based on the Insurance Type selected.Query Button If clicked, the screen will calculate the result values and display the Initial EscrowDeposit Calculator – Result screen. This button will be disabled at the firstaccessing screen and will be enabled when Payment Frequency, Payment StartDate, Cushion Months, and Tax Payment No.1 or Insurance Payment No.1 andrelated fields are filled-in.Clear Button If clicked, the screen will clear all entries and return to default settings.Close Button If clicked, the screen will close.Initial Escrow Deposit Calculator011920168

Initial Escrow Deposit CalculatorFiservNavigation:Services Relationships Module Calculators Initial Escrow Deposit Calculator (After theQuery button is selected)Screen Appearance (Initial Escrow Deposit Calculator – Result):Field Listing:FieldMonthPaid InPaid OutBalanceCushioned BalanceWith Initial DepositDescriptionProjected PaymentDescriptionProjection of PaymentThe name of month. The first value is the month name of the Payment Start Datefield. Also it will display the Year number after month name when the month isJanuary.The Projected Payment that would be made the selected month.If the month payment frequency has multiple Tax Payments or InsurancePayment occurring, the Paid In amount will be displayed at the first record of themonth only.The amount of each Tax or Insurance disbursement that occurred in the month.If no Tax Payment or Insurance Payment occurred, this column will displayNULL.The running balance per month in the Escrow account.The running balance plus the cushion amount.The running balance plus the Cushioned Balance, plus the Initial Deposit if thecalculated initial deposit was made.The description of the Tax Payment or Insurance Payment occurring in thatmonth.Initial Deposit RequiredThe calculated payment based on the Tax and/or Insurance Records providedby the User.Initial Escrow Deposit Calculator011920169

Initial Escrow Deposit CalculatorFieldCushion AmountInitial DepositRequiredClose Button FiservDescriptionThe calculated amount the lender requires as cushion based on the Tax and/orInsurance inputs.The amount the borrower must pay to cover the escrow account shortage.If clicked, the screen will close.Additional Requirements:DNA 4.0 or higher.Configuration Ensure the designated Users of this application haveaccess to the CALC – Calculator Authorization Item.RevisionsDate01/2016AppVersion #1.0.0.0ChangeApplication CreatedInitial Escrow Deposit Calculator0119201610

The Initial Escrow Deposit Calculator application 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.