What is the purpose of 'First Year Total Escrow Payment Amount' on the Document Data page under the Escrow section for the Closing Disclosure?

The First Year Total Escrow Payment Amount on the Document Data page under the Escrow section within the left hand data entry for the Closing Disclosure allows you to override the calculated value in the Escrowed Property Costs over Year 1 field of the Escrow table (Loan Disclosures section, page 4 of the Closing Disclosure).

An escrow item may not always divide or multiply by equal amounts between the annual amount and the periodic payment amount. In these scenarios, you may want to provide the total escrowed amount over year one in the First Year Total Escrow Payment Amount, so the math works in the Escrow table on the Closing Disclosure. If the field is left blank on the Document Data page of the Closing Disclosure, the calculated value will continue to populate the Escrowed Property Costs over Year 1 field in the Escrow table.