Loan Servicing & Payments

If your mortgage includes an escrow account, a portion of your monthly mortgage payment is set aside to pay your property taxes. When taxes are due, the funds are disbursed from your escrow account, payable to the municipality for you to remit by the due date. These checks are generally mailed by December 20^th.    

An escrow account is an account used to hold funds for certain homeownership expenses, such as property taxes and homeowners insurance. Each month, a portion of your mortgage payment is deposited into the escrow account. When those bills come due, the funds are paid from the account on your behalf.

This helps spread the cost of taxes and insurance throughout the year rather than requiring large lump-sum payments when they are due.

Your escrow payment may change when the cost of your property taxes or homeowners insurance changes. Each year, an escrow analysis is performed to compare the amount collected in your escrow account to the amount needed to pay upcoming taxes and insurance premiums.

If those expenses increase, your monthly mortgage payment may increase. If they decrease, your payment may decrease. You will receive a notice explaining any changes to your escrow payment.

If you change insurance companies or make changes to your homeowners insurance policy, please contact our Loan Servicing team. We can provide instructions on where to send updated insurance information and help ensure your records are updated correctly.

If your loan includes an escrow account, we will use the updated insurance information when making future insurance payments from your escrow account.

Please have your insurance company send proof of insurance to our Loan Servicing team using the following mortgagee clause:

The Equitable Bank SSB, its successors and/or assigns
2290 N Mayfair Road
Wauwatosa, WI 53226

Changes to your homeowners insurance premium may affect your escrow account and monthly mortgage payment. If your insurance costs increase or decrease, an escrow analysis may be performed to ensure sufficient funds are available to pay future premiums.

Yes. Additional principal payments can help reduce the outstanding balance of your loan and may reduce the amount of interest you pay over the life of your mortgage. If you would like to make an additional principal payment, please contact our Loan Servicing team for instructions on how to ensure the payment is applied correctly.

Customer Service sets up automatic payments. Please contact us at 414.475.1690 and we'll provide the appropriate authorization forms and instructions to get started.

If The Equitable Bank services your loan, you may obtain your loan balance, payment history, and other account information by contacting our Loan Servicing team. If your loan has been transferred to another servicer, please contact that company directly.

If ownership of your property changes or you have questions regarding title, please contact our Loan Servicing team. Certain changes may require documentation or additional review, and we'll help guide you through the process.

If your address, phone number, or email address changes, please contact our Loan Servicing team to update your account. Keeping your information current helps ensure you receive important mortgage-related communications.

If you have a question about your mortgage that isn't covered here, please contact our Loan Servicing team. We'll take the time to understand your situation and connect you with the right person or resource.

Every homeowner's situation is different. Refinancing may help you lower your interest rate or monthly payment, shorten your loan term, or access your home's equity. If you're considering refinancing, our mortgage team can help you review your options and decide what makes sense for your goals.

Absolutely. Whether your current mortgage is serviced by The Equitable Bank or another company, you may be able to refinance with us. Our mortgage lenders can review your goals, explain your options, and help you determine whether refinancing is the right fit for your situation.