Servicing Guide

Published September 9, 2020

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What actions must the servicer take when determining whether or not to perform an escrow analysis upon termination of conventional mortgage Insurance?

The following table outlines the actions the servicer must take depending on whether it performs a new escrow analysis at the time the MI is terminated.

If the servicer... Then...

does not perform a new escrow analysis

the servicer must advise the borrower that escrow deposits accumulated to pay off the next MIP will be considered in the borrower’s next escrow account analysis.

performs a new escrow analysis

the resulting change in the mortgage loan payment must not equal the amount previously escrowed for the MIP, should other escrow items need to be adjusted.

For more information please see: B-8.1-04, Termination of Conventional Mortgage Insurance.

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