Who this article is for
This article is for:
Borrowers whose insurance or taxes have changed
Homeowners switching insurance providers
Borrowers with questions about escrow adjustments
Anyone unsure who handles tax and insurance payments
Managing insurance or taxes with your Nestwise mortgage
Nestwise (or your loan servicer) uses your escrow account to pay property taxes and homeowners insurance on your behalf.
You pay into escrow monthly, and your servicer makes these payments when they are due.
Here’s how to manage each part.
1. How homeowners insurance works
Your homeowners insurance premium is paid from your escrow account once a year (or according to your policy schedule).
If your premium changes
If your insurance premium goes up or down:
Your escrow account may need to be adjusted
Your monthly payment may increase or decrease
You may receive an escrow analysis explaining the change
These changes are normal.
2. How to update or change your insurance provider
If you replace your insurance policy or choose a new provider, you must notify your servicer immediately—otherwise your escrow payment may go to the wrong insurer.
To update your insurance:
Contact your insurer and request the mortgagee clause for your servicer
Ask your insurer to send proof of insurance to your servicer
Notify Nestwise or your servicer of the change
Confirm the new premium is reflected in your escrow account
You may be asked to upload:
Your new declarations page
Your insurer’s contact information
3. How property taxes work
Your property taxes are also paid through escrow.
Your servicer sends tax payments directly to your county or taxing authority on your behalf.
If your taxes change
Taxes often change because of:
Property reassessments
Local tax rate changes
School district or municipal adjustments
If taxes increase or decrease, your monthly escrow amount will adjust accordingly during your next escrow analysis.
4. What to do if you get a tax bill
Many counties send tax statements directly to you.
If your loan is escrowed, you usually do not need to pay this bill yourself.
However:
If the bill says “mortgage company not notified,” upload a copy to your servicer
If you’re unsure whether escrow will cover it, contact support
Nestwise or your servicer will confirm whether payment is scheduled.
5. Understanding escrow shortages and surpluses
Because taxes and insurance can change, your escrow balance may not always match the actual amounts due.
Escrow shortage
This happens when your escrow account doesn’t have enough money to cover payments.
You can:
Pay the shortage in full, or
Spread it over 12 months (increasing your monthly payment)
Escrow surplus
If too much was collected:
Your servicer may send you a refund
Your monthly escrow amount may be reduced
Surpluses often occur when taxes or insurance go down.
6. Does Nestmatch™ affect taxes or insurance?
No.
Nestmatch rewards (once active) are separate from your escrow account and do not affect your taxes or insurance premiums.
When to contact support
Reach out if:
You changed insurance providers
You received a tax bill you’re unsure about
Your escrow payment changed unexpectedly
You need help updating your insurance information
You believe your taxes were calculated incorrectly
Support can verify your escrow status and make updates for you.