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Understand your annual escrow account disclosure statement

If you have a US mortgage with us, you may have an escrow account. We will pay your tax and insurance premiums on your behalf using your escrow account.

An escrow account can help you: 

  • Have peace of mind that your tax and insurance bills will be paid on time. 
  • Consolidate your payments. 
  • Save time. 

To fund the escrow account, we add a portion of your property taxes and insurance premiums to your monthly mortgage payment. At the end of the year, we adjust your monthly escrow amount based on the actual bills that were paid. 

We mail an escrow statement to you each year. It outlines the amounts paid, projections for the upcoming year, and any escrow surplus or shortage. 

Download a sample escrow account disclosure statement (PDF) that explains what each section covers. 

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