Your statement will inform you whether your monthly payment is going up or going down in the year ahead, based on this year’s tax and insurance payments. You may also end up with a shortage (too little) or a surplus (too much) in your account, based on next year’s projected payme...

A shortage means we’ve projected that your escrow account will fall below the minimum required balance in the coming year. We’ll automatically spread the shortage amount over the next 12 months and add that to your monthly payment.

If you obtain a new insurance policy prior to expiration of your existing policy and we paid the new policy from your escrow account, you will have an escrow account shortage because of the new insurance disbursement.

Learn how to remove your escrow account and pay your own property taxes and insurance bills. Find out the benefits, drawbacks, requirements and guidelines for escrow removal and how to request it.

Once your identity has been verified, you can say something like “ make a payment ” to get started. Just call 833-685-2565 to use our automated phone system. If calling from a number saved to your account, our system will automatically identify you.

Learn how to remove your escrow account and pay your own property taxes and insurance bills. Find out the benefits, drawbacks, requirements and guidelines for escrow removal and how to request it.

The amount owed each month can be affected by things like an escrow shortage, a change in your rate, or an active mortgage assistance solution. If this happens, we’ll adjust your AutoPay deduction accordingly.

If you’re behind on your mortgage payments due to a temporary financial hardship that has been resolved, you may be reviewed for a Payment Deferral Plan as a solution to resume making monthly payments (subject to investor guidelines).

If you opened an escrow account as part of your loan agreement—or chose to open one to simplify your life—we will take care of your tax and insurance payments for you.

Learn how Mr. Cooper runs an escrow analysis at least once a year to adjust your monthly payment and balance. Find out how to get an Escrow Review Statement that explains the results and any surplus or shortage in your account.