Moneylender 3 Professional - Loan Servicing Software

User's Guide and

Escrow Disbursement

Screenshot of the Escrow Disbursement dialog.

Get here by clicking the Escrow Account button on the Settings tab of the main window, clicking the Manage Disbursements button and then creating or editing a disbursement.

Escrow Disbursement records describe funds that are paid out of the escrow account. Disbursements can be marked as estimated, confirmed, and paid to be able to track and plan for escrow disbursements year-after-year. Once the disbursements are entered as either paid or estimated, it can calculate RESPA compliant escrow charges through the adjustment calculator. Only disbursements marked as paid are actually debited from the escrow account's balance.

Amount - The amount paid out of the loan's escrow account.

Date Due/Paid - Enter the date when you expect to pay estimated or confirmed disbursements, or enter the actual date the disbursement was paid.

Status - Indicates if the entry is for planning, or an actual disbursement. When you pay an estimated disbursal, edit the disbursement and change the status to Paid.

-Estimated Amount - indicates that you expect to receive a bill for the amount entered (give-or-take a little) and will pay it around the date entered.

-Amount Confirmed, Not Paid - indicates that you have received a bill, or otherwise are certain of the amount of the pending disbursement.

-Disbursement Paid - funds have officially been paid from the escrow account.

Purpose - indicate the nature of the disbursement. Disbursements are often grouped for tax purposes by these categories. Choices are Not Set, Property Tax, Property Insurance, and Mortgage Insurance.

Description - enter any text that you want to record alongside the disbursement, up to 50 characters.

This disbursement happens annually - check this box for any expenses you pay at roughly the same time each year. When you switch the status from estimated or confirmed to paid a copy of the disbursement is created on the same day a year in the future, marked as estimated. This is convenient for property taxes and insurance which are usually paid once or twice a year around the same time year-after-year.

You can print checks directly from Moneylender for principal and escrow disbursals. Printable checks have a variety of formats so you may need to customize the default check template to properly align with your check formats.

Payable To - enter the name to appear when printing a check from Moneylender on the Payable To line of the check.

Check Note - enter the text to be written on the note line of the printed check.

Check Number - enter the check number for the check being printed for this disbursement.

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