Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wp-migrate-db domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /srv/app/gotoiba-dev/htdocs/web/wp-includes/functions.php on line 6121
We would like to escrow for flood insurance (and property taxes) but not homeowners insurance. If we escrow for flood insurance, are we required to escrow for homeowners insurance? We do not make higher-priced mortgage loans (for which escrow accounts are required). – IBA Compliance Connection

We would like to escrow for flood insurance (and property taxes) but not homeowners insurance. If we escrow for flood insurance, are we required to escrow for homeowners insurance? We do not make higher-priced mortgage loans (for which escrow accounts are required).

by

No, we are not aware of any requirement to escrow homeowners insurance for non-higher-priced mortgage loans, even if you are escrowing flood insurance and property tax payments.