Under Federal law, we are allowed to maintain a minimum balance or cushion of funds in your escrow account. We use this cushion as a safeguard in the event that your real estate tax and/or insurance payments increase. Unless your mortgage contract or state law specifies a lower amount, your escrow account minimum balance is equal to no more than two months escrow payments for your real estate taxes and hazard insurance. Mortgage insurance is not included in this calculation.
For more information on your escrow account, contact SunTrust Mortgage Client Services at 800.634.7928