Will my monthly escrow amount ever change?
Your monthly escrow amount may change. We review your account at least once a year to make sure we are collecting the right amount to cover your projected taxes and insurance premiums. If these payments increase or decrease, we will recalculate your escrow payment amount during your escrow analysis. This is separate from the calculation to determine whether you have a shortage or overage, so your payment amount could increase even if you pay your shortage in full.
Any changes to your escrow payment amount will appear on the escrow account disclosure statement you receive each time we review your account.