Who provides the annual escrow account disclosure statement?

The annual escrow account disclosure statement is provided by the servicing lender. This document is essential as it details the amounts collected for escrow, how these funds are used, and the balance of the escrow account. The servicing lender manages the mortgage loan and is responsible for ensuring that all aspects of the account, including property taxes and insurance payments, are maintained correctly throughout the loan period. This responsibility includes informing the borrower of any changes to the account's status and ensuring transparency concerning the funds held in escrow.

Other roles, such as the mortgage loan originator, broker, or title company, do not typically handle the ongoing management of escrow accounts. Instead, they play different roles in the process of securing a mortgage or facilitating real estate transactions. The servicing lender is specifically designated to provide this information annually, making them the correct source for the escrow account disclosure statement.