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Mortgage Escrow Analysis

Important Information for

WLFCU Mortgage Borrowers

 about Your Mortgage Escrow Account at


Every year at this time the Loan Servicing Department at WLFCU, under the direction of Dede Rodrigues, Lending Manager, does an escrow analysis on all the mortgages we service for our members.  What does this mean for you?

An escrow account is set up on a mortgage so that WLFCU can collect and pay the borrowers’ annual property taxes and homeowner’s insurance premiums.  A monthly escrow payment amount is added to the mortgage payment (principal & interest) to cover property taxes and homeowner’s insurance premiums.  We escrow these payments because while your mortgage is in repayment we hold the deed to your home but you are responsible to pay taxes and insurance.  The escrow account is where you deposit the funds needed to cover these fees.  We review the escrow payment amount once a year to ensure the amount is sufficient to pay the required property taxes and homeowner’s insurance premiums for the following year.

We inform members about their escrow payment with an Escrow Analysis Statement.  Escrow Analysis Statements are mailed in the 4th quarter of the year.

Any change (increase or decrease) in the home’s property taxes and/or the homeowner’s insurance premiums will change the monthly escrow payment.

Some members will have a shortage in their escrow account and their mortgage payment will increase to cover this shortage. 

A member may choose to make a payment directly to their escrow account to make up the shortage.  This will prompt a reanalysis of the escrow account and the mortgage payment will be adjusted accordingly.  Members will then receive an update Escrow Analysis Statement with the revised information.

Some members will have excess funds in their escrow account at the end of the year.  These members can expect a refund credit to their savings account in the 1st quarter of the year.

If you have questions concerning your escrow account, please call WLFCU’s Loan Department at 860-292-2950 or email them at

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