How We Process Escrow Payments

Madison County processes escrow payments by mortgage companies electronically. About 6-8 weeks before payments are due, a file is sent to each mortgage company with each parcel we have on record as being a parcel they service. We call this our "Add-Delete File". The companies are asked to verify this information and send back that file with records they either do not service or no longer service removed and add records for those that are not already on the list.

Here is a brief example:
Say XYZ Mortgage Company is sent this Add-Delete File:
Tax Identification Number Parcel Number Billable Name County Name
01-9999-1-9999 48-99-99-999-999.000-001 Smith Cory Madison Co., IN
01-8888-1-8888 48-88-88-888-888.000-001 Jones Steven Madison Co., IN
01-7777-1-7777 48-77-77-777-777.000-001 Johnson Alice Madison Co., IN
01-6666-1-6666 48-66-66-666-666.000-001 Brown Lora Madison Co., IN

XYZ gets the file and discovers that Steven Jones no longer has a mortgage with them and they have added a new parcel for Mary Roberts. They would edit the file by removing the old parcel and adding the new one. XYZ only has the parcel number, so they just leave off the tax ID. As long as we have either the Tax ID or the Parcel Number, we can still process the file.

Here is the resulting file:
Tax Identification Number Parcel Number Billable Name County Name
01-9999-1-9999 48-99-99-999-999.000-001 Smith Cory Madison Co., IN
01-7777-1-7777 48-77-77-777-777.000-001 Johnson Alice Madison Co., IN
01-6666-1-6666 48-66-66-666-666.000-001 Brown Lora Madison Co., IN
48-55-55-555-555.000-001 Roberts Mary Madison Co., IN

That file is then sent back to us and is processed in our system. Please note: There is no need to do anything to highlight what is removed or what is added to the file. Our system does all of that for us. It would be helpful if either the file name is kept the same or there is at least something that identifies the file with your company.

About 3-5 weeks prior to the installment due date, another electronic file is sent to all mortgage companies for all parcels that are included in their Add-Delete File. This file has all the information needed for a mortgage company to process the payments. The payment file for the above example would look like this:
Owner of Record Tax Identification Number Parcel Number Bill Amount Comment Mortgage Company County Name Payable Year Payable Period Mortgage Receipt UID
Smith Cory 01-9999-1-9999 48-99-99-999-999.000-001 $1,310.30 XYZ Mortgage Madison 2013 Spring 9999990
Johnson Alice 01-7777-1-7777 48-77-77-777-777.000-001 $124.15 XYZ Mortgage Madison 2013 Spring 9999991
Brown Lora 01-6666-1-6666 48-66-66-666-666.000-001 $575.00 XYZ Mortgage Madison Co., IN 2013 Spring 9999992
Roberts Mary 01-5555-1-5555 48-55-55-555-555.000-001 $63.00 XYZ Mortgage Madison Co., IN 2013 Spring 9999994

Once that file is received, you can send that file back and forward on funds to the Treasurer's Office.

If you are a mortgage company and you have questions about this procedure, please contact the Chief Deputy Treasurer listed on our staff page: Staff Directory

Did You Know?

The Madison County Treasurer's Office processes payments for over 21,000 parcels for mortgage companies for each installment that is due. Our office utilizes an electronic method of payment for mortgage companies to reduce errors, save money for both the mortgage companies and the taxpayers, speed up the process of entering in each payment, and to provide an easier way to communicate with our mortgage companies.

If you have suggestions for things we can do to improve our processes, please let us know!