We’ll send those funds to you automatically. Refunds are returned following the requirements of the Real Estate Settlement Procedures Act (RESPA). If a check’s issued, it’s made payable to the borrower(s) of record and mailed to the most recent address on record, 20 days after the loan is paid in full.
The U.S. Bank Assumption department monitors the Automatic Escrow Disbursement process to ensure the balances are remitted to all borrowers in a timely manner.
Check out our Escrow Educational Video for more information.