Please send a written request to RoundPoint to add an escrow account to your mortgage loan. Adding escrow to your mortgage loan will result in an increase in your monthly contractual payment, as RoundPoint will now collect monthly for tax and/or insurance disbursements.

Please note that requesting the removal of escrow does not guarantee removal; various requirements must be met to be considered for escrow removal. Click here to download RoundPoint’s Escrow Waiver Request Form, then submit the completed form to us via email, fax, or mail.

RoundPoint runs an escrow analysis on your loan at least once per year to ensure the proper amount of funds is earmarked for future disbursements.

An escrow shortage indicates RoundPoint reviewed your escrow account and determined there would not be sufficient funds to meet your minimum escrow balance for the upcoming year. An increase in your escrow deposits each month or a lump-sum payment will be needed to correct the shortage. 

Paying the shortage in full may not reduce the monthly payment amount.

For example, an increase in homeowners’ insurance and/or tax amounts can increase the monthly amount collected for your escrow. The increased escrow amount is then added to the monthly principal and interest, which affects the overall payment amount.

In this instance, the increase is necessary to ensure proper disbursement of the next homeowner’s insurance and/or tax bill.

If your escrow shortage is paid in full after the current billing statement is generated (see “statement date” on your bill), your payment change will be reflected on the next statement. 

An escrow overage occurs when RoundPoint reviews your escrow account and determines that we’ve collected more funds than are needed to fulfill escrow disbursement requirements for the following year.

If the escrow overage is greater than $50, RoundPoint will disburse the overage as refund check mailed to your address on file.

If the escrow overage is less than $50, the overage will be added to your monthly contractual payment as a temporary credit.

Review the escrow analysis statement that showed the overage. If anything doesn’t match your records, then please contact us.

Otherwise, feel free to cash or deposit the check. The escrow overage is a refund of your money.

You can obtain the details of your escrow account (disbursements, refunds, balances) via our online account portal, You Are Home™.

RoundPoint will continue to make disbursements from the escrow account until your loan is paid in full.

Please contact us so we can place a stop payment on the check and re-issue a new check.