Homeowner Taxes and Insurance

Homeowner Taxes

I have questions about property taxes. Who should I reach out to?

For questions about your property taxes, either contact your local county assessor's office or give us a call at (800) 683-0973.

I received a tax bill. Is there anything I need to do?

If you have an escrow account with us, 1st Security Bank will also receive a copy of your current property tax bills. It is recommended you hold on to the tax bill for your personal record keeping. You do not need to send it to us.

I received a supplemental or added assessment tax bill. What do I need to do?

These types of bills typically aren’t sent to the mortgage lender or paid by your escrow account. In most cases the borrower is responsible for paying any supplemental or added assessment tax bills. If you have questions or need help, give us a call at (800) 683-0973.

I was approved for a tax exemption or my taxes were adjusted. Do I need to notify 1st Security Bank?

Yes, please give us a call at (800) 683-0973 to let us know about the adjusted tax amounts. Make sure you have the estimated or new adjusted tax amount and we will work with you to adjust your monthly escrow payment accordingly.

Homeowners Insurance

I am looking into switching my homeowners insurance to a different insurer. What do I need to do?

Let us know as soon as possible after making changes to your homeowners insurance coverage or insurer. Make sure to include your name, address, and loan number, as well as your new policy information. You may give us a call at (800) 683-0973.

What number do I call if I have a question about my insurance payment?

For questions relating to your insurance policy or coverage, please contact your insurance provider. For questions about insurance payments made from your escrow account, give us a call at (800) 683-0973.

Choose any of these convenient ways to send us your policy declarations page(s):

• Online or Mobile: Log in to Online Banking or download the 1st Security Bank Mobile app
• Email: Insurance@fsbwa.com
• Mail: 
  1st Security Bank
  P.O. Box 2069
  Carmel, IN 46082

What number do I call if I have a question about my insurance payment?

If you received a letter or email asking you to verify your insurance coverage, please visit our insurance verification page to learn more and begin the insurance verification process.

Private Mortgage Insurance

What is Private Mortgage Insurance (PMI)?

Some mortgage loans require private mortgage insurance (PMI). PMI protects lenders and others against financial loss when borrowers default. Under certain circumstances, federal law gives you the right to cancel PMI and establishes when PMI can be automatically terminated. Cancellation or termination of PMI does not affect any obligation you may have to maintain other types of insurance.

How can I request to remove PMI?

You reserve the right to request that PMI be canceled on or after either of the following dates (non-owner-occupied loans may have additional requirements):

1. The date the principal balance of your loan is first scheduled to reach 80% of the original value of the property securing the loan, or
2. The date the principal balance reaches 80% of the original value of the property securing the loan, based solely on actual payments.

Mortgage insurance on Government Insured Loans (FHA, VA, and USDA) cannot be removed. To request a review of your eligibility to remove PMI, please download and complete the PMI Removal Request form below. Completion of this form does not guarantee 1st Security Bank will remove your PMI.

For more information about removing private mortgage insurance (PMI), please visit the Consumer Financial Protection Bureau(Opens an external site) website.