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Re: That
Posted by bfd110_IN of IN on 10/2/15 8:02pm Msg #538761
Long story short, LESA lets you know there is an escrow account. Customer has insurance and fire dues paid with the lender for the life of the mortgage (or 21 years which ever comes first). There is not a specific document that says they will be doing it but the term LESA appears on several the documents, most specifically the loan amortization that is provided.
When you look at the settlement statement, there is nothing regarding an escrow account established (ie 1000 series). It is buried as a line item on several docs.

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Messages in this Thread
 Heads up.. Quicken reverse mortages - bfd110_IN on 10/2/15 7:45pm
 That's interesting news. What's a LESA? n/m -  MW/VA on 10/2/15 7:48pm
 Re: That - Brenda/FL on 10/2/15 8:01pm
 Re: That - bfd110_IN on 10/2/15 8:02pm
 Thanks. I have never seen that. I've only seen the usual -  MW/VA on 10/2/15 8:56pm
 Re: Thanks. I have never seen that. I - Shoshana/AZ on 10/3/15 12:26am
 It depends on the borrower's credit score -  Teresa/FL on 10/3/15 1:13am
 Please see Msg #538770 above - Bear900/CA on 10/3/15 2:30am
 OK, so the credit report is pulled to assist in performing -  Teresa/FL on 10/3/15 4:02pm



 
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