On Tuesday, January 20th, we will be deploying Project #58074, which will provide credit unions with a new option to pay escrow analysis surplus funds by check.
Currently, for surplus amounts over fifty dollars, the only choice is to automatically transfer the funds to the base share account. Following the deployment of Project #58074, credit unions will have the choice when configuring the Escrow Analysis via Tool #363 Escrow Analysis Configuration to transfer to the base share savings account, or to pay the surplus funds via check.
If the option to pay the escrow analysis surplus funds by check is selected, the checks will auto generate on the date the escrow payment changes on the member account established when the Escrow Disclosure Statements are created via Tool #297 Create Escrow Analysis. The checks can then be printed via Tool #632 Print Auto/Mail Checks.
