Do I have to Approve to Pay all of my monthly mortgage insurance premiums every month?

Answer

Escrows coded as monthly in Field 4 of the Escrow Record (03.23.03) or (03.12.02) only need to be entered into the Approve to Pay queue (03.12.06) the first time they are paid. Subsequent installments will automatically be entered into the Approve to Pay queue by the system. They will continue to be entered automatically until the account is deleted from Approve to Pay (03.12.06.<SF8>). Escrows can also be removed from Approve to Pay in (03.12.24). This option is used when all accounts tied to a certain dealer need to be removed from the queue.