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.