All About Escrows
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As part of your Ent Mortgage Loan, we create an escrow account for your mortgage. Learn more about escrow accounts and your annual escrow analysis in the FAQs below.
An escrow account allows mortgage holders to roll their property taxes, insurance, etc. into their monthly mortgage payment. When those bills are due, Ent pays them from the member’s escrow account. This helps members conveniently budget for these additional costs of home ownership.
Each year we review your mortgage loan to make sure the escrow portion of your monthly mortgage payment covers your real estate taxes and insurance premiums. Increases or decreases in your property taxes, homeowners insurance and/or private mortgage insurance may cause your monthly mortgage loan payment amount to change, based on this analysis.
We send members a copy of their annual escrow analysis by mail.
If bills paid from your escrow account were higher than expected your account may have a shortage.
Ent typically collects escrow shortages in equal payments over a 12-month period. If you have questions about your escrow shortage, please contact Mortgage Servicing at (719) 574-1100 ext. 857 opt. 4 or 800-525-9623 ext. 857 opt. 4.
If bills paid from your escrow account were lower than expected, your account may have a surplus*.
- If your surplus is $50 or more, it will be issued by March 13, 2020. You will either receive a mailed check, or a deposit will be made to your account (visible within Online Banking Transaction History), according to Ent's processing criteria. No action on your part is needed.
- If your surplus is less than $50, the funds will remain in your escrow account. No action on your part is needed.
*Escrow surplus funds are not available on loan(s) with outstanding delinquent payments.
Once you have made your March payment, you can view your updated monthly mortgage loan payment amount (based on your annual escrow analysis) by logging in to Online and Mobile Banking and viewing your Mortgage Loan details on the Accounts page.
If your monthly mortgage payment is...
- Made by automatic transfer from a non-Ent account:
Contact that financial institution to adjust your payment amount.
- Set up as a direct deposit from another financial institution:
Complete and return the form located here.
- Made by automatic transfer from an Ent account:
We will automatically adjust the payment amount for you. You do not have to take any action.
- Made by recurring transfer within Ent Online Banking:
You will need to adjust your payment amount online or in the Ent app.
If you do NOT have an escrow account with your Ent mortgage, yes, you are responsible for paying your county property taxes.
If you have an escrow account with your Ent mortgage, no action on your part is needed. Ent will pay the taxes in two installments (in February and May).
No, no action on your part is needed.
Call Mortgage Servicing at (719) 574-1100 ext. 857 opt. 4 or 800-525-9623 ext. 857 opt. 4 and we can tell you.
Call Mortgage Servicing at (719) 574-1100 ext. 857 opt. 4 or 800-525-9623 ext. 857 opt. 4 and let us know you've already paid your property taxes. Additional information may be needed to verify the taxes were paid and reimburse your payment.