A Public Guidance Document entitled “Biweekly Payments - Example” provides examples of biweekly accounting and a Public Guidance Document entitled “Annual Escrow Account Disclosure Statement - Example” provides examples of a 3-year accounting cycle that may be used in accordance with paragraph (c)(9) of this section. If an escrow account involves biweekly or any other payment period, the requirements in this section shall be modified accordingly. It sets limits for escrow accounts using calculations based on monthly payments and disbursements within a calendar year. This section sets out the requirements for an escrow account that a lender establishes in connection with a federally related mortgage loan.
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