It is Escrow Analysis Time

IT IS ESCROW ANALYSIS TIME

WHEN WILL ESCROW ANALYSIS STATEMENTS BE SENT TO BORROWERS?
All borrowers will receive an escrow statement by the first week of February 2021.

WHAT HAPPENS IF THE BORROWER HAS AN ESCROW SURPLUS?
If the borrower has a surplus of any amount, a check will automatically accompany the escrow statement.

WHAT IS THE PROCESS IF THE BORROWER HAS AN ESCROW SHORTAGE?
On April 1, 2021, the shortage amount will be divided over the next 12 months and added to the monthly payment due.
If borrowers do not want their monthly payment to change, they can pay their shortage online at mms.coop by designating a one-time payment to their escrow account. They may also make a payment by mail or through a WebDirect teller payment.

If you or your borrowers have any questions about escrow analysis, please email servicing@mms.coop

  • In today’s mortgage market, products are just products. Choosing the right partner really comes down to trust. Members Mortgage Services is superb at delivering on the big things, and even better at delivering the little, unexpected ones.

    Angie Miller President Emporia State Federal Credit Union

  • Our loan portfolio grew 433% in the first six months of our MMS relationship. I would never have been able to handle this significant increase in volume had it not been for the entire MMS team as well as the technology they offer. With MMS, Archer Credit Union is finally able to be a competitive force in mortgage lending in our community.

    Sarah Campa Senior Mortgage Loan Officer Archer Credit Union

  • By refocusing our mortgage efforts on origination, Credit Union of America has gone from being a minor player in mortgage lending to the #1 lender in the Wichita market. Partnering with MMS was the key to this success.

    Eileen Phelps SVP/Chief Operations Officer Credit Union of America