Changes in your Mortgage Payments
If you have a Deficiency or Shortage detailed on your Tax and Insurance Disclosure Statement, the amount(s) have been spread over the next 12 monthly payments starting with July 1, 2026.
The most likely reason for the Deficiency and/or Shortage amount is due to an increase in your home owner’s insurance and/or property taxes from what was escrowed and paid out during the previous year.
If you would like to pay the full Deficiency or Shortage amount prior to July 1, 2026 and have your monthly mortgage payment lowered based on this one-time payment, please contact the Mortgage Servicing Department at 303-657-7752 or submit a Mortgage Inquiry Message via Online Banking.
If you need assistance in making these changes, please reach out to our Contact Center at 303-657-7000. They can assist and guide you through canceling your current scheduled recurring mortgage payment and creating a new scheduled recurring mortgage payment transfer, reflecting your new monthly mortgage payment.
If you pay via a BillPay check, please adjust your BillPay payment amount to reflect the new total mortgage payment due reflected on your Tax and Insurance Account Disclosure Statement.
For recurring and scheduled payments within the Meritrust Online Banking platform, please follow the steps below to update your monthly payment amount: (You will need to complete this process once your June 1, 2026 scheduled payment has been made.)
- Login and navigate to the Transfers tool
- Click on the tab labeled “Scheduled”
- Scroll down on the page until you see your next scheduled monthly mortgage payment
- Click on the three dots next to Status and select “Cancel Series”
- Recreate the new recurring payment by clicking on the “Make a Transfer” tab
- Select the requested “from account” and “to account” (your mortgage loan)
- Select the corrected/adjusted amount due on July 1, 2026
- Input an appropriate “date” for the transfer to take place
- Adjust the “frequency” as desired
- Click on “Review Transfer” and ensure all transfer details are correct. “Edit Transfer” can be selected if changes need to be made.
- Click on “Submit Transfer”
Note: If you are using an outside payment provider (e.g. a Bill Pay system with another financial institution) or have your current payments scheduled via another means, please reach out to the originator of that transfer in regards to completing the change to your payment amount.
