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E-Closing Reconciliation Services
Three Way Escrow Account Reconciliation Services
One of the major headaches for title agents is managing their escrow account and making
sure they have all of the reconciliation reports necessary for an underwriter audit. At EClosing,
LLC we have eliminated the cause of such headaches by providing affordable
reconciliation services. Our reconciliation service will ensure that your escrow account is in
good standing and that you are prepared for your next audit, regardless of your title
processing software.
On a monthly basis E-Closing, LLC will reconcile your escrow account using the industry
standard three way escrow account reconciliation process. The three way escrow account
reconciliation process ensures that your bank, book and trial balances are all equal.
Completing this three way match protects title agents from significant financial losses due to
inadvertent errors in bookkeeping.
Upon completion of the monthly reconciliation, E-Closing, LLC, will provide you with the
following reports:
- Reconciliation Summary
- Trial Balance
- File Balance to Reconciliation
- Various Registry Reports (as needed)
E-Closing, LLC will also present you with a list of potential account issues and outline
corrective measures before these issues become an emergency.
As I mentioned at the beginning, this service is affordable, in most cases less expensive than
hiring a bookkeeper or paying a third party CPA. Our pricing is based on the number of
closings completed within the contracted month. This number directly correlates to the
number of hours required to complete the three way escrow account reconciliation.
Here is our standard fee schedule*:
- Up to 50 Closings a month $125 flat fee
- 50 to 150 Closings a month $250 flat fee
- 150 + Closings a month $325 flat fee
Please contact us at (603) 485-7951 or Marc.Hall@E-Closing.com for more information or
to sign up for our reconciliation service.
* Standard fee schedule is based on an escrow account in good standing. Fees may vary for
initial reconciliation. |
