In a recent FiServ update, it was discovered that the following two items required under § 1024.17(i)(1) no longer appear on the escrow statements. Has anyone else dealt with this and, if so, what was the work-around?

§ 1024.17(i)(1)

iii) The total amount paid into the escrow account during the past computation year;

(iv) The total amount paid out of the escrow account during the same period for taxes, insurance premiums, and other charges (as separately identified);

What ha Fiserv said about getting this fixed? And thanks for the heads up.

This issue was brought up during an external audit last year. We reached out to Fiserv about the issue and we received a statement from them with different regulatory citations showing they are correct. We showed the statement to the auditor and the report was amended and that item was removed. I have not gone through an examination yet. I don't believe Fiserv is budging on how they are doing the escrow statements now.

Do you recall what they used to show they are correct? When you look at the regulation, it seems fairly clear to me that those are required.

They reference 1998 modifications.

Reach out to your Fiserv account manager. What is what we did and was able to get a statement from them.

(j) Formats for annual escrow account statement. The formats and completed examples for annual escrow account statements using single-item analysis (pre-rule accounts) and aggregate analysis are set out in Public Guidance Documents entitled “Annual Escrow Account Disclosure Statement—Format” and “Annual Escrow Account Disclosure Statement—Example”.

How do their statements differ from the examples in the Public Guidance Documents?