You can request to set up an escrow account to pay both taxes and insurance, or only taxes or only insurance. 
To request an escrow account, email us at customercare@mortgagefamily.com with a copy of your current annual insurance premium notice and/or tax statements. Please specify in your email if you would like to set up escrow for only taxes, insurance, or both. This will help us review your request appropriately.

Next Steps: 

When we receive your request, we review the account to determine eligibility to set up an escrow account. If the request is approved, we will send you an initial escrow disclosure letter. This letter gives a breakdown of the initial deposit required to set up the account and instructions to submit the deposit. When we receive your deposit, we will create the escrow account and add the escrow payment to your regular monthly payment. If your request for an escrow account is denied, we will send a denial letter with details.
 
Please allow 14 business days to process the request.

Please note if you have taxes / insurance due within 60 days of your escrow set up request, please continue to pay the amount due.

Yes, if the account is escrowed for insurance and your new insurance provider notifies us of a new policy with an amount due, we will disburse the premium from the escrow account. 

You are responsible for cancelling your previous insurance policy. If you receive a refund from the previous carrier, send it to us to apply to your escrow account. 

You can upload the insurance policy information on www.mycoverageinfo.com/mortgagefamily or email it to MortgageFamily@MyCoverageInfo.com. You can also fax the information to 1-937-525-4210.

To close your HELOC, please complete and sign the Authorization to Close Home Equity Line of Credit form and return to the fax or mailing address listed below. Once your account is paid in full and closed, we will automatically process a lien release.

A request to release the lien is not required, but you can send one by email, fax or mail:

Email: CustomerCare@MortgageFamily.com

Fax: 856-917-2700

Mail:
Onity Mortgage
PO Box 24736
Attn: SV24
West Palm Beach, FL 33416

Mortgage insurance is required for FHA loans and is referred to as mortgage insurance premium (MIP). MIP protects the mortgage investor if the account becomes past due.

If you took out an FHA loan after June 3, 2013, generally, the MIP cannot be canceled. If you took out an FHA loan before June 3, 2013, you may be able to cancel the MIP early.  

Requirements can vary, so the best way to get the right information for your account is to contact us. We'll be happy to walk you through the steps.