Escrow Analysis: Important Reminder for Escrow Loan Customers

October 22, 2020

For customers with escrowed loans, please remember to check your mortgage statement payment amounts this month. Annual escrow analysis was processed in September 2020 and will impact November 2020 mortgage payments.

If your payment has changed, you may need to update Bill Pay or automatic payments to reflect the change. If the payment amount is not updated, you may submit a short payment which can result in a fee.

You should have received an escrow statement in the mail that has detailed escrow amounts and payment changes after analysis. Please note that payment amounts can be impacted due to the following:

  • Change in homeowner’s insurance policy premium
  • Change in flood insurance policy premium
  • Change in private mortgage insurance (PMI) policy premium
  • Change in real estate taxes
  • Forced placed homeowners or flood insurance

If you have any questions about your loan or your payment, you can contact our Loan Servicing department directly at 401.821.9100 ext. 5363.