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.