Your Mortgage Servicing Provider.
ServiSolutions offices will be closed Monday, February 15 in observance of the Presidents' Day holiday. We will reopen at 8 a.m. CST on Tuesday, February 16.
Important Notice about Payment Changes Due to Escrow Analysis
Our Customer Service representatives are receiving a high volume of calls due to some customer’s questions about payment changes resulting from our annual escrow analysis.
Calculations used are specified by the Real Estate Settlement Procedures Act. Your escrow balance is projected forward month by month for the next 12 months. At the lowest point, it should be equal to 2 months regular escrow deposits (taxes, insurance, and mortgage insurance premium/12).
If the lowest balance is less than that amount, you have a shortage. If the lowest monthly balance is greater than that amount, you have an overage.
Shortages are automatically prorated over 12 monthly payments. You may pay the shortage in full to limit the increase in your monthly payment, although it may still be greater than your old payment amount.
Overages less than $50 are prorated and reduce your payment for several months. Overages over $50 are refunded by check, which is mailed separately.
If you have questions about changes on your escrow analysis statement to your taxes, insurance and/or mortgage insurance amounts, please contact your county tax collector or insurance agent.
If you expect your tax or insurance amounts will change for 2016, please have supporting evidence of the new amount and call Customer Service to discuss reanalyzing your account to calculate the appropriate payment.
For more information about your escrow account, visit http://servsol.com/homeowners/understanding_your_escrow_account.aspx
Alabama, Florida, Georgia, Mississippi, Missouri, North Carolina & Tennessee:
Mon-Fri / 8 am - 5 pm Central Time
Mon-Fri / 8 am - 5 pm Pacific Time