Just a friendly reminder as you process construction and/or home improvement loans through the winter months. There may be instances where construction/improvements cannot move forward due to inclement weather. When this happens, the loan proceeds may be held in an escrow account until the weather improves. Keep in mind that these escrow monies are not considered “settlement charges” and therefore, should not be disclosed on the GFE or the Settlement Statement. These escrow accounts also do not fall under RESPA’s escrow rules found in §3500.17.