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DEFINE_ESCROW_REASON - Define Reasons for Opening and Closing Escrow Account

DEFINE_ESCROW_REASON - Define Reasons for Opening and Closing Escrow Account

TXBHW - Original Tax Base Amount in Local Currency   BAL_S_LOG - Application Log: Log header data  
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In this IMG activity you specify the reasons why a new escrow account is opened for a mortgage loan or why an existing escrow account is to be closed.

Depending on the default status of the escrow account, different scenarios can lead to the opening and or closing of an escrow account:

  • Voluntary opening of an escrow account
The borrower opens an escrow account with the lender voluntarily for the opening reasons defined in this IMG activity.
The borrower has the right to close the escrow account if he or she has opened the escrow account voluntarily.
  • Compulsory opening of an escrow account
The lender opens an escrow account for the borrower, without having to consult with the borrower beforehand. This is possible in cases where the borrower has made insufficient payments to cover outstanding payables for his or her mortgage loan, for example.
If the lender has decided to make the opening of an escrow account compulsory, the borrower does not have the right to close this escrow account for any of the closure reasons defined in the Closure Reasons.

To specify the opening and closing reasons for your escrow accounts, you need to have activated the Escrow function for the loan product type as follows.

In the IMG activity Define Product Types choose New Entries and set the indicator to activate the Additional Function Escrow for your mortgage loan.

To define the opening and closing reasons for your escrow account, proceed as follows:

  1. In the initial screen of the IMG activity Define Opening and Closing Reasons for Escrow Account, in change mode choose New Entries to define account opening reasons and account closing reasons for each company code and product type.
  2. Select the company code to which your mortgage loan belongs using the selection help.
    1. Select the product type of your mortgage loan using the selection help.
Note: In the USA escrow accounts are only used for mortgage loans of product type 30A. So you will usually select product type 30A.
  1. Enter a 3 figure numerical key to identify the Reason for the opening of an escrow account.
  2. Use the selection help to assign an event category to the opening reason.
  3. Enter a description of the reason for opening or closing the account.
  4. Enter a short description for the opening or closing reason you have defined.
  5. Repeat steps a to f until you have assigned the reasons for opening or closing an escrow account to the required company codes and product types.
The system stores these assignments in a table that you can display by choosing the Position pushbutton.
  1. If you want to change the defined assignments of the company codes and product types to opening or closing reasons, complete the following steps in the Change Opening and Closing Reasons for Escrow Account: Overview screen:
    1. Choose Position
    2. In the next screen, enter the company code, product type and the reason you want to process.
The system automatically highlights the assignments you have selected and makes them available for processing.
  1. If necessary, change the event category.
  2. If necessary, enter a new description for the opening or closing reason.
  3. If necessary, enter a short description for the opening or closing reason.
  4. Repeat steps a to f for all assignments for which you want to change the event categories and /or descriptions.
  • Save your entries.





    • CL_GUI_FRONTEND_SERVICES - Frontend Services   TXBHW - Original Tax Base Amount in Local Currency  
    This documentation is copyright by SAP AG.

    Length: 4912 Date: 20240523 Time: 182233     sap01-206 ( 70 ms )