We’ll send you a letter that advises if you are eligible for escrow removal. If approved, we’ll remove the escrow account and send you a final letter with your new monthly payment amount. We’ll also let you know if you have an escrow refund headed your way.

The escrow account must have a positive balance (no escrow advances that haven’t been repaid). Requesting Escrow Removal. To see if your loan is eligible for removing escrow: Chat with us. Create a ticket in our secure Message Center. Email us at ResearchIncoming@mrcooper.com. Ma...

Important: Cancellation requests by mail must include an explicit request to cancel PMI, your loan number, the date, and the signatures of all borrowers. How do I get rid of PMI?

If you don’t have an escrow account, you can request that we add an escrow account for you. Conversely, if you have an escrow account and want to remove it, you can submit a request to remove escrow.

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. View and manage your escrow account online by signing in to your account.

We’ll send you an Escrow Review Statement that explains the results of the escrow analysis. 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.

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, on the off chance, we miss the delinquency deadline, we’ll cover the difference and reimburse the penalty amount into your escrow account. Some tax authorities even offer “early payment discounts.” If you’re eligible for these, we’ll always try make your payments in time to get...

If you have an escrow account and you receive a delinquent tax bill, let us know right away so we can sort out what happened. You can contact us or you can send us the bill. Please write your loan number on it first, and then send to any of the following:

Escrow: Check out our escrow articles. Credit reporting: See this blog on how to fix credit reporting mistakes if you believe we’ve reported incorrect information to a credit bureau. Taxes: Find answers on possible issues with your property taxes and when we’ll pay your property ...