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ESCROW SETUP REQUEST FORM
flagstar.com
Member FDIC
Rev 1/13
Use this form to set up an Escrow Account for your Flagstar Bank loan.
Before you apply, your loan MUST meet the following conditions.
• Escrow Accounts require that both taxes and insurance be included unless the property is a condo. No exceptions.
• Any Taxes or Insurance payments due within the next 60 days must be paid in full. A receipt or a copy of a cancelled
check that was used to pay these must be included with this application.
• California properties must pay their supplemental taxes. Flagstar does not escrow supplemental taxes.
• Homeowners are responsible for paying association fees/dues. Flagstar does not escrow association fees/dues.
Loan Number
*********
*
Please PRINT in CAPITAL LETTERS
First Name: Middle Name: Last Name:
Street Address:
City: State : Zip Code:
Daytime Phone Number: ( ) ext.
The following documents MUST BE INCLUDED with this application.
• A copy of Homeowners Insurance declaration page(s) that shows the policy number, expiration date, and yearly premium amount.
• Declaration must state: Flagstar Bank, its successors and/or assigns, as First Mortgagee.
• A copy of receipt or cancelled check showing the Homeowner’s Insurance YEARLY Premium is paid in full.
• A Statement from your local property tax office that includes
1. Amount of all taxes.
2. Due dates of installments.
3. The statement should indicate that all taxes are paid to date.
• A copy of the Flood Insurance declaration page indicating the yearly premium (if applicable).
• A copy of receipt or cancelled check showing the YEARLY Flood Insurance Premium is paid in full (if applicable).
You will be notified by mail of our decision regarding your request. All documents mentioned above must be included with this application.
The decision making process may take up to four weeks, and completion of this form does not guarantee that Flagstar Bank will set up an Escrow
Account for your mortgage.
Signature: Date:
IMPORTANT INFORMATION
Once complete and signed, please mail or fax to:
Mail: Flagstar Bank | Escrow Setup Department | Mail Stop E-122-3 | 5151 Corporate Dr. | Troy, MI 48098-2639 Fax: (888) 590-1697
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