Mortgagee Escrow Payments in the New Agent PortalPublished on: May 25, 2022
Attention agents: We hear that you need the flexibility to make online payments on behalf of your clients when signing them up for mortgagee escrow in the New Agent Portal. For new business, this change would help secure coverage more quickly than going through their mortgage company for the payment.
New Payment Workflow Coming Soon
Based on your feedback, we are enabling the following payment workflow in the New Agent Portal:
- Agent selects mortgagee escrow as the payment method.
- Agent may then select one of three payment options:
- Mortgagee Billed
- If Mortgagee Billed is selected and submitted, the policy will be issued upon receipt of payment.
- If EFT is selected (and the agent/user is enrolled to use EFT), the policy will be immediately issued when submitted.
- If eCheck is selected, additional fields will be presented for completion and the policy will be immediately issued when submitted.
Scroll down to see a screenshot of how the Payment Details screen will look when the new payment workflow becomes available.
When Will It Become Available?
Within the next week.
TWIA Notices to Mortgage Companies
While on the subject of mortgage companies, we would like to share a reminder. TWIA sends notices directly to them for:
- New Submissions
- Policy Changes
If you are in the habit of sending information to mortgage companies about the above policy activities, please know that they are also receiving it from us.
How the Payment Details screen will look when the new payment workflow becomes available: