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 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.

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.

This does not mean that the taxes will not increase to the full land and home assessed value during the following tax period, causing a possible shortage in your escrow account and/or resulting in a supplemental tax bill.

The minimum required balance is the lowest positive balance allowed in your escrow account at any given time —this positive balance is also known as a cushion requirement. This helps us minimize the impact to your monthly mortgage payment when property tax and insurance rates inc...

An escrow — or impound — account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month.

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.