You can request a mortgage recast after making a lump-sum payment of $5,000 or more towards the principal balance. The account must meet the following criteria to be eligible for a recast:

• The account must be paid ahead or due for the current month's payment.
• The account must not be active in an interest-only payment period.

HELOC, FHA, VA, GNMA, and commercial accounts are not eligible for a recast.

There may be other requirements. For help with a recast request or to make sure you qualify before making a large lump-sum payment, log on to your account and send us a secure message by visiting Account Management > Messages.

A recast occurs when a large lump sum payment is made towards the principal balance and a request is made to recalculate the monthly payment based on the new lower balance. The interest rate and loan term remain unchanged. 

Recasts are subject to eligibility and a fee may apply. 
 

Yes, you can request that the Department of Veterans Affairs (VA) deduct mortgage payments from your VA disability compensation or pension. To start, stop or change deductions, fill out this form and return it to the VA.

Please note: If you are a Veteran making your mortgage payment through the Deduction of Benefit process, it is your responsibility to submit a new form to the VA authorizing a change in the deduction from your benefit payment should the mortgage payment amount change.

If the draft day falls on a weekend or holiday, your payment will be drafted the next business day.

If the payoff occurs before your draft date, the draft will cancel automatically. If your draft occurs while the payoff funds are in transit and you wish to avoid a duplicate payment, we do recommend that you cancel the draft. Please note, if your mortgage payment due date occurs before the payoff date, you're still responsible for the monthly mortgage payment. 

Once-a-Month or Biweekly Payments
You can cancel once-a-month or biweekly payments through our website at any time. Visit the Payment section and select the Autopay link or call our Customer Care Department at 1-800-449-8767. 

Twice-a-Month Payments
You can cancel twice-a-month payments up to three business days before the draft date by calling our Customer Care Department at 1-800-449-8767.
 

PMI is a type of mortgage insurance. It is typically required on a conventional loan if the down payment is less than 20% of the home’s purchase price.

PMI may also be required to refinance if your equity is less than 20% of the value of your home.

Equity is the amount you have paid toward the loan principal through the down payment, your monthly payments, and additional payments to principal. Increases to your house’s market value can also increase your equity.

Payments will draft from your bank account on the date included in the confirmation letter we sent when you set up Autopay. If your scheduled draft falls on a weekend or holiday, your payment will draft on the next business day.

An escrow account is money we set aside to pay expenses related to your mortgage, like property taxes and homeowner's insurance. We break these expenses into monthly installments and add them to your mortgage payment. When your property tax and insurance bills are due, we pay them on your behalf from your escrow account.  Learn more in our Escrow Education Center.

Yes. We'll send a confirmation letter with the date of your first draft. Please continue to make your mortgage payment until you receive the confirmation letter and the draft date has been confirmed.

If your account is escrowed for property taxes, your monthly mortgage payment will include funds to pay the taxes. We hold these funds in an escrow account and pay your property taxes when they are due. If your account is not escrowed for property taxes, you are responsible for paying the taxes by the due date.

If the account is escrowed for taxes, we pay the amount reported by your taxing authority. Please contact your taxing authority to be sure that they do not request payment during the deferral period.

An escrow analysis is typically performed annually, to ensure sufficient funds are being collected to avoid escrow shortages and overages. However, off-schedule analyses are also performed to ensure sufficient funds are available. Any increase or decrease to your annual property taxes and/or insurance premiums may cause your mortgage payment amount to change. We provide details of your analysis in the Escrow Account Statement. For more information, visit the Escrow Education Center.

If you'd like to change your Autopay program, please click here to select and enroll in a different program. Once the new enrollment is processed, we'll stop your existing program and move the account to the new selection. 

We'll send a confirmation letter with the date of your first draft. Please continue to make your mortgage payment until you receive the confirmation letter and the draft date has been confirmed. 
 

Mortgage insurance helps you to get a mortgage without having to make a substantial down payment. By paying a mortgage insurance premium, you can purchase a new home with less than 20% down. Mortgage insurance protects the mortgage investor if the account becomes past due. 
 
The most common types of mortgage insurance are private mortgage insurance (PMI) and insurance through the Federal Housing Administration (FHA), called a mortgage insurance premium (MIP).
 
If you are required to carry mortgage insurance, the insurance may be canceled when the equity in your home reaches a certain percentage.

To find your property tax amount, log in to your account on MortgageQuestions.com. The My Loan tile shows upcoming tax disbursements under "Taxes and Insurance." You can also see past tax disbursements in the "Payment History" section.

If you are not registered on MortgageQuestions.com, you can find the property tax amount on your most recent escrow analysis, or you can contact your local tax authority.

There are many factors that go into a decision to refinance. The first step is determining your financial goals. For example, are you looking to lower your monthly payment, reduce your mortgage term, consolidate bills, or take cash out for home repairs and other expenses? These are all things to be considered. Contact one of our expert sales consultants to discuss your options. You may even qualify for a streamline process that could save you time and money.

If the account is current and not in bankruptcy at the time of the analysis and the surplus is less than $49.00, we use the surplus to lower the monthly escrow payment. If the surplus is $49.00 or more, we refund the surplus. We will send a check within 30 days of completing the escrow analysis.

If the account is in bankruptcy or is not current at the time of the analysis, the surplus stays in the escrow account until the next escrow analysis. Learn more in our Escrow Education Center.

After we receive the application, we'll process the request within five business days and send a letter confirming the draft details. Be sure to check the letter for the first draft date. If you set up your Autopay on our website, be sure to confirm the first draft date. 

Drafts scheduled within 10 days of the due date go into effect the following month. You may need to make a payment by another method before the Autopay drafts begin. 

Once-a-Month or Biweekly Payments
You can cancel once-a-month or biweekly payments through our website at any time. Visit the Payment section and select the Autopay link or call our Customer Care Department at 1-800-449-8767. 

Twice-a-Month Payments
You can cancel twice-a-month payments up to three business days before the draft date by calling our Customer Care Department at 1-800-449-8767.

The Form 1099 may be income received related to your mortgage, debt which was discharged, or another event reportable to the IRS which took place during the year. There are several different types of 1099 forms, but you will only receive a form applicable to you. 

• Form 1099-A is typically provided in the event of foreclosure, deed-in-lieu of foreclosure, etc. during the tax year. The IRS requires a Form 1099-A when we (1) acquire an interest in a property securing the loan or (2) have reason to know the property is abandoned.  
• Form 1099-C is provided when a debt is cancelled, forgiven, or discharged. This includes if a modification was completed which includes eligible principal forgiveness. The IRS requires a Form 1099-C when a cancellation of principal amount owed of $600 or more occurs.  
• Form 1099-INT is provided when your escrow account earns $10 or more of interest during the year.  If you did not receive a Form 1099-INT, it is because you were either paid less than $10.00 of accrued interest in your escrow account or your interest income was paid on or after January 1st, so you won’t receive one until next year.  
• Form 1099-MISC is provided when you received $600 or more in cash benefits during the year.  The Miscellaneous Income Statement Form 1099-MISC is issued to report to the IRS the following:
  • Payments to the customer or the tenant residing in a property currently in the foreclosure process. The purpose of the payment is to assure the residing party permanently evacuates the property. This is referred to as the Cash for Keys or Cash for Relocation Program. This amount is reported in Box 3.
  • Any other payment for Rent, Attorney Gross Proceeds, or Other Income of $600 or more.