Mortgage FAQs
Navigating mortgage servicing, payments, and escrow accounts made simple. Get answers to your questions here.
Mortgage Servicing: Escrow
You can make an escrow only payment through our Quick Pay system, or by visiting one of our banking centers.
Your mortgage loan payment may have changed due to an increase or decrease in your annual insurance premium or property tax bill. Each year we are notified by your insurance company and county treasurer of your bill amount and we will adjust the escrow amount included in your total monthly payment to ensure we are collecting enough to pay your insurance and tax bill. Your monthly loan payment can also change if you have an Adjustable Rate Mortgage (ARM) loan (please reference your promissory note for details).
Escrow analysis is performed every 12 months on mortgage loans with escrows (tax and insurance) accounts associated with them. Our clients receive a detailed notice that breaks down the activity in their escrow account over the past 12 months, along with a projection for the next 12 months' activity. It is at this time that a new payment is set for the client for the following 12 months. If it is determined that a client has too much in their escrow account, they will receive a refund check for that overage in the mail in the 2 weeks following the analysis. If it is determined that a client has too little, the shortage will be spread over the next 12 months and the client’s payment will reflect this increase. The client will also be given the option to pay for that shortage or deficiency up front to mitigate that portion of increase in their monthly payment.
In order to mitigate a potential shortage in your account due to rising real estate taxes and property insurance, we keep a cushion in your escrow account. Therefore, the minimum balance required in an escrow account is two months' of escrow payments, also knows as a "cushion".
Mortgage Servicing: Payments
Log into Online Banking. Select a one-time transfer or setup a recurring transfer from your Bank of Jackson Hole account.
Set up a recurring ACH transfer from any financial institution and email it to our Mortgage Servicing team at MortgageServicing@nbhbank.com.
Go to our free online payment service that offers you a fast and convenient way to pay your Bank of Jackson Hole loan directly from any checking or savings account. Our site provides two payment options — make a one-time payment or set up recurring payments to be drafted on the 1st of each month.
We also provide a convenient phone payment option. Just call 877.877.0397.
Visit us in person at one of our banking centers.
Yes! Go to the homepage, or click "Sign In" in the top right corner of this page, then click "New Online Banking User? Click Here" in the Online Banking login box. Check the radial circle for "Loan Account" during set up. Within online banking, you can make a loan payment from a Bank of Jackson Hole account, review your online statements, elect to have e-statements sent to you, and view your loan activity.
Yes, you can. Simply identify the additional funds in your payment to go to principal. If principal only, add a zero in the payment line.
You can email your request to LoanPayoffRequests@nbhbank.com, along with a signed authorization to release the information. We cannot provide a payoff by phone.
Please contact our Loss Mitigation team at 866.505.1468 to make arrangements.
A late fee will be assessed the evening of the 16th day. We are unable to change your due date.
The transfer and sale of mortgages is a common practice in the mortgage industry. It fulfills the need of investors and makes funds available for other homebuyers. A sold mortgage means we have sold the rights to collect the monthly payment. Everything about the loan stays the same except for the company you send your monthly payment to.