Frequently Asked Questions (FAQs)
If you have questions about your loan with First Savings Bank and would like to speak to someone, please give us a call at (866) 621-9119. Our team members are available Monday – Friday 8:00 am – 9:00 pm ET and Saturday 8:00 am – 12:00 pm ET to help you.
Servicing and Payment Contact Information
General Frequently Asked Questions
Servicemembers Civil Relief Act
Q: How long does it take to receive my escrow balance after my loan is paid in full?
A: Once your loan is paid in full, the escrow/surplus balance, if any, will be refunded and sent to the mailing address within our system within approximately 10 business days from the date of the payoff transaction. If you are moving, it is important that you provide us a new mailing address to ensure receipt of any refund as a result of the payoff.
Q: What should I do if I receive a tax bill?
A: If you have an escrow account for taxes and the bill is for the current tax due, please mail or fax your tax bill to the address below. Please include your loan number on any correspondence. Corelogic 95 Methodist Hill Dr., Suite 100 Rochester, NY 14623 Fax: (509) 797-8963.
Q: Why did I receive an escrow overage check?
A: An overage check can be a result of your annual insurance premium, taxes or both being less than originally expected. The Escrow Analysis Statement included with the check should show how the overage was calculated. Federal law requires that we return any surplus over $50 directly to you. However, if you would like to return the overage check to us and have it applied as a principal reduction, please do so by endorsing the back of the check to First Savings Bank and send it to the following address: First Savings Bank 500 S Broad Street, Suite 100A Meriden, CT 06450
What is the difference between a shortage vs. a deficiency in my escrow account?
A shortage means an amount by which a current escrow account balance falls short of the target balance at the time of escrow analysis. If your escrow account analysis discloses a shortage of less than one month's escrow account payment, then we may require you to repay the shortage amount within 30 days. If your escrow account analysis discloses a shortage that is greater than or equal to one month's escrow account payment, then we may require you to repay the shortage in equal monthly payments over at least a 12-month period. A deficiency is the amount of a negative balance in an escrow account. If your escrow account analysis confirms a deficiency, then we may require you to pay additional monthly deposits to your account to eliminate the deficiency. If the deficiency is less than one month's escrow account payment, then we may require you to repay the deficiency within 30 days. If the deficiency is greater than or equal to one month's escrow payment, we may require you to repay the deficiency in two or more equal monthly payments. Please see your Escrow Analysis Statement for further details.
What payment methods can I use to I repay my escrow shortage or deficiency?
You may pay the shortage in your escrow account by phone 866-621-9119 (a processing fee may apply) or by mailing it to the address below. FIRST SAVINGS BANK. ATTN: Escrow 500 South Broad St. Ste 100A Meriden, CT 06450 If you are mailing your payment, be sure to include your Escrow Account Shortage Payment Coupon (found on your Escrow Analysis Statement) and/or specify your intent to apply the payment to your escrow shortage. If you are current on payments, you may also pay online. Click here to sign into to your account. If the shortage causes a financial hardship and you feel that you cannot afford the increased payment amount, please call our Customer Care Department at 866-621-9119 right away, and we’ll be happy to discuss options that are available to you.
What if I want to pay my escrow shortage in full?
The repayment option allowing for payment over 12 months for shortages that are greater than or equal to one month's escrow account payment is derived from federal regulations governing escrow shortages and deficiencies. Although a lump sum payment is not a required option, FIRST SAVINGS BANK will allow for it upon customer request. If you would like to repay your shortage in a lump sum, you may do so using one of the payment options above.
What if I want to pay my escrow shortage in less than 12 months?
The repayment option allowing for payment over 12 months for shortages that are greater than or equal to one month's escrow account payment is derived from federal regulations governing escrow shortages and deficiencies. Although paying in less than 12 months is not a required option, FIRST SAVINGS BANK will allow for it upon customer request. If you would like to repay your shortage in less than a 12-month period, please contact our Customer Care Center at 866-621-9119