Escrow waiver

Many mortgages collect taxes and insurance in monthly escrow. An escrow waiver turns that collection off so the borrower pays those bills on their own. The escrow account is the account. A shortage or surplus is a later balance event inside that account.

Fannie Mae Selling Guide B2-1.5-04 is PRIMARY for the escrow-waiver heading. Regulation X escrow-account rules are supporting context, not a waiver schedule.

Borrowers hear they can drop escrow and think the account rules disappear. Waiver eligibility and fees are not universal.

• Escrow account
• Escrow shortage
• Escrow surplus

An escrow waiver means the borrower pays taxes and insurance directly instead of through an escrow account. Eligibility, fees, and legal limits are not universal and are not listed here.