Escrow

Why are you collecting funds when I paid my taxes and insurance premiums at closing?
The payments you made at closing were for your initial deposit or for bills that were due immediately. You'll put funds into escrow each month for futur...
Fri, 23 Jun, 2023 at 3:31 PM
If my escrow amount changes, do the automatic payments I've scheduled get adjusted?
If you've set up automatic mortgage payments with:  Our auto-draft: we'll adjust your payments.  Our online Bill Pay service: you'll need ...
Fri, 23 Jun, 2023 at 3:31 PM
Do I need to send you my tax and insurance bills each time they're due?
No. We usually get them from your local property tax office and insurance company. We'll let you know if we need you to send the bills to us.  Can&...
Fri, 23 Jun, 2023 at 3:32 PM
What's an escrow review/analysis?
Each year, we review your account to make sure the escrow portion of your total monthly payment covers your property taxes and insurance premiums, while als...
Fri, 23 Jun, 2023 at 3:32 PM
What's an escrow shortage?
If the funds in your escrow account are projected to be below your minimum balance at the lowest point in the 12-month period, you have a shortage. This can...
Fri, 23 Jun, 2023 at 3:32 PM
What's an escrow overage?
If your escrow account is projected to have more than the minimum balance required at its lowest point in the 12-month period, you have an overage. This hap...
Fri, 23 Jun, 2023 at 3:33 PM