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USDA monthly guarantee fee in escrow?

This article explains how to set up MI for USDA for the CD. If using DocMagic users will get a low escrow account balance error and please follow this procedure.

  • Navigate to the disclosure section 
  • Within section G add a line item for Mortgage Insurance
  • Set your due date to the following year and enter the monthly amount 
  • Users most likely do not have to use the Set default procedure as long as the aggregate is negative. 
  • Leave the months 0
  • Click save 
  • Navigate to the loan additional > Mortgage Insurance. 
  • Select Yes for In Escrow 
  • Save changes. 
  • Re-run your documents package.