MortgageWhy Monitor — first private check
Check the whole mortgage statement—not only escrow.
Reconcile the payment, principal, interest, escrow, mortgage insurance, fees, and unapplied funds. Then record a small monthly summary on this device if you choose.
One monthly health check
- Did the servicer credit the amount paid?
- Does the payment breakdown add up?
- Did the principal balance move correctly?
- Are fees, suspense funds, or escrow events explained?
Free private consistency check
Enter the figures printed on one statement.
The first version uses manual entry so the statement stays with you. Blank optional expectations simply skip those comparisons.
Step 1 of 3: Statement totals
Start with the statement totals.
Use the amount scheduled, the amount credited, and the principal balances printed on this month's statement.
What the monthly check covers
Four checks, one understandable report.
Payment received and divided
Compare the scheduled payment with what was received and credited, then add regular and extra principal, interest, escrow, mortgage insurance, and fees.
Principal and interest
Reconcile regular and extra principal against the balance and compare reported interest with a simple estimate when you enter the note rate.
Escrow activity
Compare the monthly escrow deposit and any tax or insurance payment with the amount you expected.
Fees and unapplied funds
Call attention to unfamiliar charges or money held in suspense so you know what to ask the servicer to explain.
Monitoring is monthly and event-based.
A mortgage statement can be checked monthly, but taxes, insurance, and annual escrow analysis require checks when those events occur.
- 1
Every month
Check the statement, payment application, balance, fees, and escrow deposit.
- 2
When a bill is due
Confirm property taxes or insurance were paid for the correct amount and before the deadline.
- 3
When something changes
Review a new payment, servicing transfer, insurance notice, shortage, or unexpected fee.
- 4
Once a year
Rebuild the annual escrow analysis and compare its next-year projection.
Understand what the servicer is required to do.
Read the plain-English guide to escrow limits, annual analysis, timely tax and insurance payments, shortages, deficiencies, and written error requests.