03/26/2020 - Retained Servicing Loans in Wisconsin Have Been Analyzed

The information in this newsflash applies to Retained Servicing Loans.  

The Retained Servicing Loans in the State of Wisconsin with Escrow Accounts have been analyzed with a Payment Change Effective Date of May 1, 2020.

Escrow shortages resulting from this analysis have been spread over 12 months, unless the loan had a previous shortage spread greater than 12 months.  In those instances, loans were analyzed using the remaining term of the original shortage spread. 

Remember, escrow overages less than $50.00 are given as a one-time credit toward the first payment in this new Escrow Analysis Payment Cycle.  Escrow refund checks were mailed to customers with Escrow Overage amounts of $50.00 or greater. 

Total Loans Analyzed: 3,900

  • Average Escrow Shortage:          $566.71 
  • Average Escrow Overage:           $562.90
  • Average Payment Decrease:       $45.77
  • Average Payment Increase:        $76.23

Please see your manager or lead if you have questions.