It may. Gregory Funding analyzes all escrow accounts annually to make sure we’re collecting the right amount to cover your projected taxes and insurance premiums. If these payments increase or decrease, we’ll recalculate your escrow payment.

This is separate from the calculation to determine whether you have a shortage or surplus, so your payment amount could increase even if you pay your shortage in full.

An escrow analysis is a periodic audit of escrow receipts to see whether your monthly payment is adequate to pay for taxes and insurance. Increases or decreases in your annual tax or insurance bills may cause your monthly mortgage amount to change. If bills paid from your escrow account before the escrow analysis were higher than expected, your account may have a shortage. If they were lower than expected, your account may have a surplus. After each escrow analysis, Gregory Funding will send you an escrow account disclosure statement by mail.