Forced Place Hz Ins from Escrow

Posted By: HRH Okie Banker

Forced Place Hz Ins from Escrow - 05/15/19 02:49 PM

We forced placed hazard insurance via escrow account last year. We wish to not renew this policy this year (loan falls below our risk profile for requiring it). In order to not renew do we have to send notice to the customer?
Posted By: Dan Persfull

Re: Forced Place Hz Ins from Escrow - 05/17/19 02:34 PM

I assume you are cancelling the escrow. If so you must send the required cancellation notices within the mandated time frames.
Posted By: HRH Okie Banker

Re: Forced Place Hz Ins from Escrow - 05/17/19 03:59 PM

Thank you.